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Mortgage rates drop below 4 percent for first time ever
msnbc ^ | October 6, 2011

Posted on 10/06/2011 10:57:40 AM PDT by ilovesarah2012

The average rate on the 30-year fixed mortgage this week fell below 4 percent for the first time ever, to 3.94 percent.

For those who can qualify, it's an extraordinary opportunity to buy or refinance. And mortgage rates could fall even further now that the Federal Reserve plans to reshuffle its portfolio of securities to try and lower long-term rates.

On Thursday, Freddie Mac said the average rate on a 30-year fixed mortgage dropped from 4.01 percent last week, the previous low. The average rate on a 15-year fixed loan, a popular refinancing option, dipped to 3.26 percent, also a record.

(Excerpt) Read more at ...

TOPICS: Business/Economy
KEYWORDS: 4; fanniemae; freddiemac; housingcrisis; mortgagecrisis; mortgagerates; mortgages; rate; rates

1 posted on 10/06/2011 10:57:43 AM PDT by ilovesarah2012
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To: ilovesarah2012
You can not push a rope.

Until the foreclosures are completed
and available for resale,
real estate is toast

2 posted on 10/06/2011 11:00:26 AM PDT by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your law is my delight.)
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To: UriĀ’el-2012

Whatever happened to that Shadow Inventory of some 4.7 million homes.

I thought they were suppose to show up by October 2011.

I haven’t seen them.

3 posted on 10/06/2011 11:09:07 AM PDT by Vendome (Don't take life so seriously, you won't live through it anyway)
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