mortgage rates

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Mortgage-Rate Drop Sets off Refinancing Rush

The biggest rate drop in seven years sends homeowners to banks looking for deals

(Newser) - The biggest one-day decline in mortgage rates in 7 years set off a frenzy of refinancing yesterday, as homeowners who'd been waiting for a bargain jumped into the market. The nearly one-point decline was prompted by the Fed's $600 billion commitment to buy mortgage-backed securities, reports Bloomberg. "It's the...

Mortgage Rates Fall After Fannie, Freddie Bailout

Average 30-year loan rates drop nearly half a point

(Newser) - The federal takeover of Fannie Mae and Freddie Mac sent mortgage rates plummeting today, MSNBC reports. The average 30-year fixed rate mortgage dropped nearly half a percentage point to 5.88%, dipping below 6% for the first time since January. The average rate for a 15-year loan is down to...

Fannie, Freddie Deal May Ease Rates, Cut Foreclosures

Federal takeover may help refresh housing market as dust settles

(Newser) - How will the government’s seizure of Fannie Mae and Freddie Mac affect homeowners and buyers? In the short term, the New York Times says, interest rates may fall some, but probably not enough to stop the slide in home prices. Some facing foreclosure could have a better chance at...

Pressure Mounts for a Freddie, Fannie Bailout

Investors want Treasury to take the lead on mortgage giants sooner rather than later

(Newser) - A federal bailout for Fannie Mae and Freddie Mac looks more likely every day, both the Wall Street Journal and the New York Times report, as the mortgage giants find it increasingly difficult to borrow and their stock continues to take a pounding. Freddie was able to auction $3 billion...

Mortgage Rates Surge to 5-Year High

Problems with Freddie, Fannie threaten further woes for housing market

(Newser) - Mortgage rates rose yesterday to a 5-year high of 6.71% as investors worried that—even with government intervention—Fannie Mae and Freddie Mac wouldn’t play as big a role in the $12 trillion US mortgage market as in the past, reports the New York Times. The rising rates...

Obama Got 'Good Deal' on Mortgage

Better-than-average rate on $1.32M loan raises eyebrows; bank says it's not unusual

(Newser) - Barack Obama is taking heat for accepting a better-than-average interest rate that saves him $300 a month on his $1.32 million mortgage, the Washington Post reports. The 30-year, fixed 5.625% rate on the Democrat's Chicago home was under the 6% being offered other buyers in June 2005 by...

Surprise Rate Hike Will Soon Rattle US Borrowers

Yardstick London interest rate jumps

(Newser) - A surprise hike in a widely used interest rate is expected to soon send many US borrowers reeling, the Wall Street Journal warns. The London interbank offered rate, a yardstick for financial instruments including resettable mortgages, jumped sharply yesterday. The increase, a signal that banks are becoming more cautious about...

Poll: Most Expect Recession but Aren't Hurting—Yet

Poll shows majority fear for future

(Newser) - The vast majority of Americans are convinced the nation is sinking into a recession—but most are not feeling the pinch themselves and have no plans to tighten their belts just yet, according to a Los Angeles Times/Bloomberg poll. A year ago a similar poll showed widespread confidence that the...

Mortgage Rates Drop to 5-Month Low
Mortgage Rates Drop
to 5-Month Low

Mortgage Rates Drop to 5-Month Low

Analysts attribute dip to slackening economy

(Newser) - Rates for 30-year fixed mortgages have slipped for the third week in a row. The dip to 6.24% is the lowest level since May. Mortgage rates have been falling across the board over the last week, which analysts attribute to the slackening economy. The drop follows the Fed's cut...

Weak Wal-Mart Profits Turn Smiles Upside-Down

Stock dips in early trading on anemic report

(Newser) - Wal-Mart stock saw its biggest dip in five years in early trading this morning, after Q2 profits rose less than analysts had expected. The Arkansas-based behemoth says full-year profit will total $3.13 a share, 3 cents lighter than its projections: Bloomberg reports that surging gas prices, faltering home sales...

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