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Dec 03

A Look At This Week’s Mortgage Rates : December 3, 2012

Low mortgage rates are pumping up home affordability. Average 30-year fixed-rate mortgage rates made a new all-time low in November, continuing this year Refinance Boom and giving fuel to the budding housing market recovery. At month-end, Freddie Mac's survey of 125 banks nationwide put the benchmark product's rate at 3.32% for borrowers willing to pay 0.8 discount points. This is just 0.01 percentage point above the record-low rate establishing prior to Thanksgiving. The 15-year fixed … [Read more...]

Nov 06

October Jobs Report Blows Away Estimates; Mortgage Rates Falling

  Another month, another good showing for the U.S. economy. Mortgage rates are performing surprisingly well after Friday's release of the October 2012 Non-Farm Payrolls report. The Bureau of Labor Statistics' monthly report beat Wall Street expectations, while also showing a giant revision to the previously-released job tallies of August and September. 171,000 net new jobs were created last month against calls for 125,000 and revisions for the two months prior totalled … [Read more...]

Oct 09

What’s Ahead For Mortgage Rates This Week : October 9, 2012

Mortgage markets worsened last week for the first time in a month as the U.S. economy showed signs of improvement, and the Eurozone stepped closer to launching its $500 billion euro rescue fund. Conforming mortgage rates in DC rose last week on the whole -- even though Freddie Mac's Primary Mortgage Market Survey proclaimed that they fell. This occurred because Freddie Mac's weekly mortgage rate survey is conducted between Monday and Tuesday each week and, last week, mortgage rates were … [Read more...]

Sep 24

What’s Ahead For Mortgage Rates This Week : September 24, 2012

Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high. A series of economic reports showed strength in housing and a stability in jobs. Wall Street looked past it, however, to send mortgage rates to their lowest levels in history. One week into the Federal Reserve's newest bond-buying program, the stimulus appears to be working. According to Freddie Mac, the average 30-year fixed rate mortgage rate slipped to 3.49% … [Read more...]

Sep 10

What’s Ahead For Mortgage Rates This Week : September 10, 2012

Mortgage markets worsened slightly in last week's holiday-shortened week. As expected, Wall Street took its cues from Europe and from the U.S. jobs market, and mortgage rates moved across a wide range. Home buyers in DC and would-be refinancing households were greeted with wildly varying mortgage rates, depending on which day they loan-shopped. According to Freddie Mac's weekly mortgage rate survey, 30-year fixed rate mortgage rates averaged 3.55% nationwide last week, with an accompanying … [Read more...]