REALTOR® Magazine-Daily News-Record Lows Continue for Mortgage Rates

REALTOR® Magazine-Daily News-Record Lows Continue for Mortgage Rates: "Daily Real Estate News July 30, 2010 Share
Record Lows Continue for Mortgage Rates
The 30-year fixed mortgage rate fell to a new low of 4.54 percent this week from 4.56 percent last week and an average of 5.25 percent a year ago.

The 15-year fixed loan rate also hit a record low of 4 percent, down from 4.03 percent a week ago and 4.69 percent last year. The five-year adjustable-rate mortgage averaged 3.76 percent, compared to 3.79 percent last week and 4.75 percent a year earlier; and one-year ARMs averaged 3.64 percent, down from 3.7 percent and 4.80 percent, respectively.

Source: The Wall Street Journal, Nathan Becker (07/30/10)

© Copyright 2010 Information Inc."

Housing Outlook: Rentals Up, Sales Down - Barrons.com

Housing Outlook: Rentals Up, Sales Down - Barrons.com: "THE ECONOMY, AS ALWAYS, CALLS the tune in the housing market. The subpar recovery we are experiencing, which is likely to be followed by a subpar expansion, is tailor-made to help spawn a generation of renters.
Young people who need the down payment for a home have often been helped by what jokingly has been called the new 'G.I. bill': generous in-laws. That will no doubt continue. But given the economic constraints those in-laws will be facing—imposed by higher taxes and the need to build (or rebuild) retirement savings—their generosity could be severely limited."

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