The Time to Buy a House is Summer 2010

Housing and Money

Once again, would-be home owners should pile all their cash together and take advantage of the lowest 30 year mortgage rates of 4.57% (according to Freddie Mac (NYSE:FRE)), we may never see these rates again in our lifetime, its unbelievable. Sponsors - Become one Today

(Bloomberg) -- Mortgage rates for 30-year U.S. loans fell to the lowest on record for the third straight week, reducing borrowing costs for homebuyers as unemployment and foreclosures weigh on demand.

The average rate declined to 4.57 percent in the week ended today, the lowest since Freddie Mac began compiling the data in 1971, the mortgage-finance company said in a statement. It was 4.58 last week. Rates for 15-year loans rose to 4.07 percent from 4.04 percent, McLean, Virginia-based Freddie Mac said.

Borrowing costs have tumbled in the past three months amid investor demand for bonds including mortgage-backed securities. Lower rates have failed to lift housing sales, which sank after the expiration of a tax credit for home buyers. An index of applications to buy homes fell to the second-lowest level since 1997 last week, according to the Mortgage Bankers Association.


WallStNation.comThanks for visiting, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)

Share Content

Share this article with others, is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary

Please Review the Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details