Rate on 30-year mortgage falls to record 3.87 pct.
阅读[6688] 回复[0] 打印 | 收藏
字体大小: 小 | 大
|
Rate on 30-year mortgage falls to record 3.87 pct.
WASHINGTON (AP) -- The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
% h) `; P( [& r. }; l' P2 @4 GMortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.87 percent this week. That below the previous record of 3.88 hit two weeks ago.
8 @* @- ^# G7 P, K7 O5 DThe average on the 15-year fixed mortgage fell to 3.14 percent, also a record low. Records for mortgage rates date back to the 1950s. ; o" a) L8 i, _6 _! m
Mortgage rates tend to track the yield on the 10-year Treasury note, which fell below 1.9 percent this week. 7 ?4 z6 H" R+ @8 G0 F
Rates have been low for more than a year, and the average rate on the 30-year loan has hovered near 4 percent for more than three months. Yet few people can afford to buy a home or qualify for a loan. Those who can have already done so.
9 |9 u" H; D/ K' i7 UHigh unemployment and scant wage gains have made it harder for many people to qualify for loans. Many don't want to sink money into a home that they fear could lose value over the next few years. , N5 r" s: A) _# J/ J3 w
Sales of previously occupied homes were dismal last year. New-home sales in 2011 were the worst on records going back half a century. ) V' ?+ g8 a6 `0 Q1 V+ U. P/ Z
Builders are hopeful that the low rates could boost sales next year. But so far, they have had a minimal impact.
! ]. A& T3 {! s, d- x
& F4 E- P9 t4 W. u# jMortgage applications have risen slightly over the past four weeks, according to the Mortgage Bankers Association. But they are coming off extremely low levels. " s/ z. v) K$ p: L: t7 V- S
To calculate the average rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week.
2 F( ~. u* W# E2 A5 Y/ iThe average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
: f4 |. W; _2 _ h; [The average fee for the 30-year loan rose to 0.8 from 0.7; the average on the 15-year fixed mortgage was unchanged at 0.8. ! }) S' f0 r2 x6 L6 a
For the five-year adjustable loan, the average rate fell to 2.80 percent from 2.85 percent. The average on the one-year adjustable loan rose to 2.76 percent from 2.74 percent. / J: {/ b0 M$ G% B6 d( C
The average fee on the five-year adjustable loan rose was unchanged at 0.7; the average on the one-year adjustable-rate loan was unchanged at 0.6. |
|
|
|
|