Mortgage rates dropped to a record low

Mortgage Rates Drop to 40 year record Low Category: Financial News , Mortgage News – admin – 3:19 pm According to Primary Mortgage Market survey released by Freddie Mac, 30-year mortgage loans with fixed rate amortizations schedules dropped to their lowest level on record, Thursday.

Mortgage rates dropped yet again to another record low for 2011, falling to the lowest level in nearly 6 months and helping the real estate market which is on life support. Both fixed mortgage rates and adjustable mortgage rates dropped this week.

Mortgage rates fell for the second straight week to the lowest point in five decades, but it may not be enough to jump-start the housing market. Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans dropped to 4.57 percent. That’s down from the previous record of 4.58.

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Mortgage rates drop to record low. Mar 26, 2009 @ 10:45 am. By Associated Press. Rates on 30-year mortgages plunged this week to the lowest level on record after the Federal Reserve launched a new.

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The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs.

Rates dropped more than 1% in the last 7 months. Another 1% drop would put rates in the high 2% range, breaking every record in the books.

The nation's extremely favorable mortgage rates sank even lower this week, setting records for both the 30-year and 15-year fixed rate loans.

Records for mortgage rates date back to the 1950s. The average on the 15-year fixed mortgage ticked down to 3.16 percent. That’s down from a record 3.21 percent three weeks ago.

MORTGAGE costs are plummeting with fixed-rate deals falling to a record low in May thanks to growing competition among lenders, the Bank of England said yesterday. Of these, the market-leading deal for buyers with a 30 per cent deposit is HSBC’s two-year fixed rate of 2.49 per cent, with a 999 fee. This is closely followed by Alliance & Leicester’s 2.64 per cent deal.

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"The spring buying season is off to a strong start. Thanks to an unexpectedly large drop in mortgage rates following last week’s FOMC (Federal Open Market Committee) meeting, purchase applications.