Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
30- 15-year rates set new lows for 2011
WASHINGTON (5/31/11)--Thirty- and fifteen-year fixed-rate mortgages continued to slide during the week ended May 26, setting new yearly low points, with 30-year loans averaging 4.60% and 15-year loans averaging 3.78%. The previous lows for this year were set last week. Freddie Mac Vice President/Chief Economist Frank Nothaft said that reports of slowed economic activity cause the decreased mortgage rates. Nothaft added that U.S. home prices may bottom out soon, as prices only fell by 0.3% between February and March. Five-year and one-year adjustable rate mortgages (ARM) also fell during the week, averaging 3.41% and 3.11%, respectively. Those rates stood at 3.48% and 3.15% last week. Five-year ARMs averaged 3.97% this time last year, while one-year ARMs averaged 3.95%.
Other Resources

RSS





print
News Now LiveWire
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
4 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
8 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
9 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
10 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
11 hours ago