Tag Archives: Bankrate

Fixed mortgage rates showed little signs of movement in the last full week of November, hovering near record lows as market worries heightened over the impending fiscal cliff. Freddie Mac puts the average 30-year fixed mortgage rate at 3.32 percent and the 15-year rate at 2.64 percent. Analysts say uncertainty surrounding the fiscal cliff has businesses, consumers, and financial markets all feeling uncertain themselves, which will keep mortgage rates at these levels as long as talks drag on in Washington.

Consumer sentiment regarding personal finances was down in November, indicating Americans foster a more negative perception about their own finances than they did last year, according to Bankrate's Financial Security Index released this week. In fact, the index has indicated a decline in consumer confidence year-over-year in 22 of the past 24 months. Bankrate measures consumers' perceptions of financial security in five categories: debt, net worth, savings, job security, and overall financial situation.

Fixed mortgage rates dropped to all-time record lows amid indicators of higher consumer confidence and lower wholesale prices, according to Freddie Mac's Primary Mortgage Market Survey. According to the survey, the rate on a 30-year fixed-rate mortgage (FRM) averaged 3.34 percent (0.7 point) for the week ending November 15. The previous low record for the 30-year fixed was 3.36 percent, set the week of October 4 this year. The 15-year fixed average also fell to a new low, dipping to 2.65 percent (0.7 point) from 2.69 percent the week before.

Fixed mortgage rates fell back slightly to start November as investors anxiously wait for signs of which direction the economy is headed. According to Freddie Mac's Primary Mortgage Market Survey the average rate for a 30-year fixed-rate mortgage was 3.39 percent (0.7 point) for the week ending November 1, down from 3.41 percent in the previous week. The 15-year fixed average for the week was 2.70 percent (0.7 point), a slip from 2.72 percent in the last survey. Bankrate.com's weekly survey also demonstrated decreases all around.

Mortgage rate movement this week was ""so slight it was almost nonexistent,"" according to data from Freddie Mac and Bankrate.com. Freddie Mac's survey showed a bit of movement in fixed rates, with the 30-year fixed averaging 3.41 percent (0.7 point), up from 3.37 percent in the previous survey. The 15-year fixed averaged 2.72 percent (0.6 point), up from 2.66 percent. Bankrate's weekly survey revealed even smaller changes: The 30-year fixed dropped to 3.61 percent from 3.62 percent last week, while the 15-year fixed slid to 2.90 percent from 2.91 percent before.

Freddie Mac's Primary Mortgage Market Survey (PMMS) showed surprisingly little life this week following the better-than-expected jobs report for September. While rates did rise for the week ending October 11, most increases were mild. The 30-year fixed average posted the largest growth, rising to 3.39 percent (0.7 point) from 3.36 percent-a record low the week before. The 15-year fixed-rate mortgage also saw an increase, averaging 2.70 percent (0.6 point), up from 2.69 percent previously.

For the second week in a row, mortgage rates hit new record lows, and for the first time since mid-October 2009, the 15-year fixed-rate mortgage is lower than the 5-year adjustable-rate mortgage (ARM). The average 30-year fixed-rate mortgage for the week ending October 4 was 3.36 percent, according to Freddie Mac. The 15-year fixed-rate mortgage also fell from the previous week, dropping to 2.69 percent. Frank Nothaft, VP and chief economist at Freddie Mac, attributes the falling rates to ""mortgage securities purchases by the Federal Reserve and indicators of a weakening economy.""

It's unknown whether or not the Federal Reserve's new stimulus will be able to whip the economy back into shape, but one thing's for sure: It's sent mortgage rates plummeting. Freddie Mac's Primary Mortgage Market Survey showed new record lows in all categories except the 5-year adjustable-rate mortgage (ARM).

The Federal Reserve's announcement confirming a third round of quantitative easing sent long-term mortgage rates tumbling to all-new record lows this week. Freddie Mac's Primary Mortgage Market Survey showed a drop in both the 30-year and 15-year fixed. According to the survey, the 30-year fixed-rate mortgage (FRM) averaged 3.49 percent (0.6 point) for the week ending September 20, down from 3.55 percent the week before. The 15-year FRM also fell this week, averaging 2.77 percent (0.6 point). The previous survey showed an average of 2.85 percent.

Mortgage rates saw little change this week as investors await news from the Federal Open Markets Committee (FOMC) about a possible third round of quantitative easing. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.55 percent (0.6 point) for the week ending September 13, no different from the week before and only slightly above its all-time low achieved earlier in the summer.