Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
30- 15-year mortgages remain at record lows
WASHINGTON (10/7/11)--Average rates on 30- and 15-year fixed rate mortgages fell to all-time lows for the second straight week, totaling 3.94% and 3.26%, respectively, Freddie Mac reported. Thirty-year mortgages averaged 4.01% last week and 4.27% this time last year. Fifteen-year mortgages averaged 3.28% last week and 3.72% this time last year. Freddie Mac Chief Economist Frank Nothaft said these record low mortgage rates are due to a “sharp drop in 10-year Treasuries early in the week as concerns over a global recession grew.” Five-year Treasury indexed hybrid adjustable-rate mortgages (ARMs) also fell during the week, averaging 2.96%. Last week’s total as 3.02%. However, one-year Treasury-indexed ARMs averaged 2.95% this week, up from the 2.83% total reported last week. Nothaft said the one-year ARM increase was tied to the Federal Reserve’s move to replace $400 billion in short-term Treasury securities. These securities serve as benchmarks for many ARMs, Nothaft said. For the full release, use the resource link.
Other Resources

RSS print
News Now LiveWire
Did you ask @CommonwealthCU CEO a fin. question on #heyKaren day? She'll answer #likeaboss http://t.co/2PgZAp9qu0 https://t.co/RySBvM4rBc
3 hours ago
Texans linebacker Cushing continues outreach, spokesman role for @FirstCommCU http://t.co/wIUGhn9okM
6 hours ago
Despite what consumers say, big banks still hold sway over market via @Marketplace http://t.co/ozH69d8soj
8 hours ago
Erie, Pa., Americo FCU CEO praises staff for actions during robbery http://t.co/yyhaPnDtXh
9 hours ago
"Shreditorial" praises good deeds of @DannemoraFedCU http://t.co/06qKe0mhzR
9 hours ago