U.S. Fixed Mortgage Rates Rise from Record Lows

Home funding company Freddie Mac said on Thursday that in the past week U.S. fixed home loan rates were at above record lows, tracking bond yields higher following surprise improvement in November employment.

mortgage rates

0.10 percentage point rise in 30-Year mortgage

30-year mortgages averaged 4.81%, a rise of 0.10 percentage point from the the previous week, when it hit the lowest level since Freddie Mac started tracking it in 1971.

Historically Low mortgage rates – A response to government interventions

Historically low mortgage rates, are mainly a response to government interventions such as the purchase of more than $1.4 trillion in mortgage-related debt. These steps taken by the government are helping to restore the stability in hard-hit U.S. housing after a three-year dive.

Unemployment and fear of job loss – a challenge for Housing Market

Despite enticing borrowing costs and discounted house prices, factors such as high unemployment and fear of job loss has controlled the homebuyer’s appetite.

Drop in Unemployment Rate

It has been reported by the Labor Department last Friday that there has been a drop in unemployment rate. It has dropped to 10% in November from a 26-1/2-year high of 10.2% in October.

Rise in 15-Year Mortgage Rate

The average 15-year mortgage rate has shown a rise to 4.32% in the past week from 4.27 percent, which has been recorded as the lowest since Freddie started tracking this rate weekly in 1991.

You might also like

US Mortgage Rates Rise in Latest Week -Freddie Mac According to a survey that has been released on Thursday by home funding company Freddie Mac , in the...
California 30 Year Fixed Mortgage Rate at 4.75%. Two weeks ago California mortgage rates hit a new all time record low of 4.5% on a 30 year fixed mortgage....
Mortgages Rise to 5.25% According to Freddie Mac's weekly survey of mortgage rates, again there has been a rise in the home-mortgage...
Current Mortgage Rates Mixed in the Latest Mortgage Survey According to the survey released by the Mortgage Bankers Association’s Weekly Mortgage Application...
Freddie Mac: 15-year fixed-rate mortgage at lowest since 1991 Freddie Mac reported on Thursday, that this week rates on fixed-rate mortgages fell for a third week...
Debt Consolidation Companies

People who liked this Post also read

is an experienced IT Consultant turned Blogger, Interested in Technology, Personal Finance, Humans and Life...You and discover more about him by following RMak on twitter.

Leave a Reply

© 2011 Loan Mortgage Credit!. All rights reserved.