August 23, 2010

Record Home Loan Rates, Again

Low inflation expectations and continued economic weakness keep mortgage rates wiggling downward

The latest national mortgage rate survey showed the average 30-year mortgage rate .02% lower than the prior week. The rate continued below 4.5% when seven/tenths of a point was paid at closing to obtain the rate.

"Investors in long-term bonds appear very confident that inflation will remain in check, and as a result long-term fixed mortgage rates have continued to fall,” said Amy Crews Cutts, deputy chief economist, Freddie Mac. Last week marked the ninth straight week in Freddie Mac’s Primary Mortgage Market Survey^® that 30-year-fixed mortgage rates have met or set a new record low.

Here are the numbers from Freddie Mac’s press release of August 19:

Chart

Freddie

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	Freddie Mac Press Release
	30-Year, 15-Year Fixed-Rate Mortgages Continue to Inch Downward
	http://www.freddiemac.com/pmms/release.html?week=33&year=2010

Topic Tags: Flagstaff homes, home loan rates, mortgage rates, Remax in Flagstaff

by Ann Heitland
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