AP News

News Summary: Rates on US mortgages at record lows


RATES AT RECORD LOWS: The average U.S. rate on the 30-year fixed mortgage touched its record low this week, and the rate on the 15-year fixed mortgage hit a new record.

DECLINES FOLLOW FED ACTION: The declines followed the Federal Reserve announcement last week that it will buy mortgage bonds to try to push loan rates lower and stimulate the housing market.

THE NUMBERS: The rate on the 30-year mortgage dropped to 3.49 percent. That matched the lowest rate since long-term mortgages began in the 1950s. The rate on the 15-year mortgage plunged to 2.77 percent, a new record.


Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus