They just keep on going and going and going … DOWN !

Jan 13th 2009

Related Posts: Credit & Finance, Real Estate News

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The average interest rate on 30-year U.S. fixed-rate mortgages dropped to a 28-year low of 5.01% in the latest week, after the Federal Reserve launched its mammoth plan to lower home borrowing costs, Freddie Mac said Thursday. The rate for the week ended Thursday declined from 5.1% in the prior week and marked the 10th consecutive week of declines. It was the lowest rate recorded by Freddie Mac, the second-largest provider of funding for residential mortgages, since its survey began in 1971. The Fed this week began its purchases of up to $500 billion in mortgage-backed securities issued by Freddie Mac, Fannie Mae and Ginnie Mae, resulting in sharply lower yields on the bonds that influence the rates that lenders can offer consumers. Source: USA Today  NEW YORK (Reuters)

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  1. » They just keep on going and going and going … DOWN ! said at January 13th, 2009 at 1:32 pm

    [...] Bulletins Live – Daily Business & Economy News wrote an interesting post today onHere’s a quick excerpt The average interest rate on 30-year U.S. fixed-rate mortgages dropped to a 28-year low of 5.01% in the latest week, after the Federal Reserve launched its mammoth plan to lower home borrowing costs, Freddie Mac said Thursday. The rate for the week ended Thursday declined from 5.1% in the prior week and marked the 10th consecutive week of declines. It was the lowest rate recorded by Freddie Mac, the second-largest provider of funding for residential mortgages, since its survey began in 1971. Th [...]

  2. Credit Crunch » They just keep on going and going and going … DOWN ! said at January 13th, 2009 at 2:10 pm

    [...] Bearwatch wrote an interesting post today onHere’s a quick excerpt The average interest rate on 30-year U.S. fixed-rate mortgages dropped to a 28-year low of 5.01% in the latest week, after the Federal Reserve launched its mammoth plan to lower home borrowing costs, Freddie Mac said Thursday. The rate for the week ended Thursday declined from 5.1% in the prior week and marked the 10th consecutive week of declines. It was the lowest rate recorded by Freddie Mac, the second-largest provider of funding for residential mortgages, since its survey began in 1971. Th [...]

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