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Mortgage rates lowest in over 50 years

19 Aug

“The Federal Reserve’s policy statement last week and ongoing market concerns over the European debt market carried momentum into this week allowing all mortgage products in our survey to reach all-time record lows. For instance, 30-year fixed mortgage rates are now the lowest in over 50 years. In comparison, the Bureau of Economic Analysis estimated the average effective mortgage rate was about 5.3 percent on single-family loans outstanding during the second quarter of 2011.”

– Frank Nothaft, vice president and chief economist, Freddie Mac

Data Provided by Freddie Mac’s Primary Mortgage Market Survey®

 

 Week ending on 8/18/2011

Interest
Rate

Fees
& Points

Margin

 30 Year Fixed Rate

4.15 %

0.7

N/A

 15 Year Fixed Rate

3.36 %

0.6

N/A

 5/1 Adjustable Rate

3.08 %

0.5

2.73

 1 Year Adjustable Rate

2.86 %

0.6

2.76

A special thanks to Mark Potter with Service First Mortgage for providing this information

 Previous week: 8/11/2011

Interest
Rate

Fees
& Points

Margin

 30 Year Fixed Rate

4.32 %

0.7

N/A

 15 Year Fixed Rate

3.50 %

0.7

N/A

 5/1 Adjustable Rate

3.13 %

0.5

2.74

 1 Year Adjustable Rate

2.89 %

0.5

2.76

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Posted by on August 19, 2011 in The Market

 

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