Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
30- 15-year mortgages reach all-time lows
WASHINGTON (8/12/11)--Average rates on 30- and 15-year fixed rate mortgages fell to all-time lows this week, totaling 4.01% and 3.28%, respectively, Freddie Mac reported. Thirty-year mortgages averaged 4.09% last week and 4.32% this time last year. Fifteen-year mortgages averaged 3.29% last week and 3.75% this time last year. Freddie Mac Chief Economist Frank Nothaft said the record low fixed rates were partly due to the Federal Reserve’s recent decision to purchase billions in Treasury securities. However, Nothaft noted, interest rates for adjustable-rate mortgages (ARMs) “were nearly unchanged” due to this news, as short-term Treasury securities “serve as benchmarks for many ARMs.” Five-year Treasury indexed hybrid ARMs averaged 3.02%, equal to last week’s total. One-year Treasury-indexed ARMs averaged 2.83% this week, slightly up from the 2.82% total reported last week. These mortgages averaged 3.52% and 3.48%, respectively, this time last year. For the full release, use the resource link.
Other Resources

RSS print
News Now LiveWire
.@SCTelco_FCU among best places to work in S.C. via @TheCCUL http://t.co/PJnjOArfm8
17 minutes ago
#IceBucketChallenge in D.C. today: @HampelBill with help from some @CUNA staff http://t.co/3iOqE2KSjd
42 minutes ago
P2P mobile payments draw millennials' interest via @BloombergNews http://t.co/uoO2anjCsV
2 hours ago
#creditunion CEO confidence continues upward trend #NewsNow http://t.co/gi1IamDlA8
3 hours ago
.@NJCUL to hold info session for #cugreenloans in Sept. See #NewsNow http://t.co/5h65CplhS9
3 hours ago