Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Mortgage rates drop to record lows
WASHINGTON (11/15/10)--The average rate on both 30-year and 15-year fixed-rate mortgages fell to all-time record lows last week. As reported in Freddie Mac’s most recent mortgage rate survey, 30-year mortgages averaged 4.17% and 15-year mortgages averaged 3.57%, with both fixed rate loans falling more than five basis points below their previous weekly averages. Fixed rate 30- and 15-year mortgages averaged 4.91% and 4.36% this time last year, respectively. Both five-year and one-year adjustable rate mortgages were low, with average rates of 3.25% and 4.46% reported. “Despite historically low mortgage rates, however, the housing recovery continues to be slow owing in part to household job uncertainty and tight credit conditions,” Freddie Mac Vice President/Chief Economist Frank Nothaft said. For the full release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
11 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
12 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
12 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
12 hours ago
Things get hairy at #creditunions during #Movember http://t.co/Hc6tYRMSY8
14 hours ago