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
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
4 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
5 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
6 hours ago
@TheNCUA open meeting is slated to start at 10 a.m. ET. Should be a quick one. #NewsNow http://t.co/rfYjnat7eI
7 hours ago
Mass. CUs in unanimous vote joined RI and NH CUs in approving merger of the 3 state leagues 2 form the Cooperative Credit Union Association.
7 hours ago