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Mortgage rates dropped to a record low

For the second week in a row, mortgage rates dropped to a new record low. This morning, freddie mac reported 3.31 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. From Freddie Mac vice president and chief economist Frank Nothaft: Fixed mortgage rates continued to.

Mortgage rates drop to record low. mar 26, 2009 @ 10:45 am. By Associated Press. Rates on 30-year mortgages plunged this week to the lowest level on record after the Federal Reserve launched a new.

 · The U.S. mortgage delinquency rate hit a 20-year low during the same time period. The U.S. mortgage delinquency rate hit a 20-year low during the same time period.

 · This is a huge blow to savers hoping for better rates but a boost to borrowers celebrating record low mortgage rates.. He said they would rise when unemployment dropped to seven per cent.

 · Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85% this week, from 4.98% last week. It was the lowest in the history of Freddie Mac’s survey, which dates back to 1971 (see chart above). The previous record low of 4.96% was set in the week of Jan. 15. MP: It could be a lot worse. It was a lot worse in the 1981-1982.

 · Homeowners scramble to refinance mortgages as rates hit the lowest level in 17 months. But mortgage applications for home purchase rose just 0.5%.

Mortgage rates continue to drop. Since the start of the year, the average 30-year conventional fixed rate mortgage is down more than a half-percentage point, and the 15-year fixed rate mortgage.

The 30-year fixed-rate mortgage dropped to 3.73 percent this week.. OLDER americans' housing wealth SURGES TO RECORD HIGH.

Low mortgage rates have many people thinking about buying a new home. The recent drop in interest rates has inspired an influx in mortgage applications.. highest level since June – which was just below the record high.

Mortgage Broker Boca Raton | Mortgage Lender Boca Raton "I don’t think it’s right," said Louis Moroff, 81, who lives west of Boca Raton, Fla. "And that’s if you can find a lender," said Jim Sahnger, vice president of Palm Beach Financial Network, a.

Records for mortgage rates date back to the 1950s. The average on the 15-year fixed mortgage ticked down to 3.16 percent. That’s down from a record 3.21 percent three weeks ago.

Wisconsin’s unemployment rate dropped to a record low 2.8% in April, state officials said Thursday.

The Pros and Cons of Florida Reverse Mortgage Merchant Mall :: Discount Prices reverse mortgage cons: 1. Loss of equity. This is probably the biggest con. Since a reverse mortgage is a loan, and the borrower is not making payments on a monthly basis to pay back that loan, interest continues to accrue which INCREASES the balance of the loan. That is why it is called a “reverse” mortgage, the balance is going up not down.