Tag Archive | “mortgage rates lowest level on records”

US Mortgage Rates Drop to Record Low of 4.71%

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There is a record drop in mortgage rates for fixed 30-year loans, among signs that the housing market has started emerging from the worst slump since the 1930s.

Rates fell to lowest ever recorded 4.71%

The rate has become as low as 4.71% for the week ended today. This has been recorded as the lowest since Freddie Mac began compiling the data in 1971.

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Mortgage buyer Freddie Mac of McLean, Virginia,  said today in a statement that the average 15-year rate was 4.27%.

Increase in Mortgage Applications

Low mortgage costs and a tax credit for first-time homebuyers have rendered help to increase the demand for property as in October the number of contracts to buy previously owned homes rose and last week there has been a surge in mortgage applications.

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15-year fixed mortgage rates hit a low

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Mortgage company Freddie Mac said that this week the average rate for a 30-year fixed mortgage was 5.04%, that has dropped down from 5.07% a week earlier.

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15-year fixed-rate mortgage has dropped to 4.47%

The average rate on a 15-year fixed-rate mortgage has dropped to 4.47% from 4.5% last week, these were the lowest level on records that has ever recorded since 1991.

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September 2011
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