Mortgage rates hit low of 4.44 pct.

Discussion in 'Economics' started by S2007S, Aug 12, 2010.

  1. S2007S


    Another day another record low mortgage rate. The fed is intervening in this market to artificially lower mortgage rates. Bubble ben bernanke is doing a good job by inflating the next bubble, nothing like artificially lowering mortgage rates to try and keep the housing market propped up.

    Mortgage rates hit low of 4.44 pct.
    Average rates for fixed mortgages fall to 4.44 pct. on Fed move to buy more gov't debt

    Alan Zibel, AP Real Estate Writer, On Thursday August 12, 2010, 10:05 am

    WASHINGTON (AP) -- Mortgage rates sank to the lowest level in decades this week, pushed down by the Federal Reserve's move to buy up government debt in a bid to lift the economic recovery.

    Mortgage buyer Freddie Mac says the average rate for 30-year fixed loans this week was 4.44 percent, down from 4.49 percent last week. That's the lowest since Freddie Mac began tracking rates in 1971.

    The average rate on the 15-year fixed loan dropped to 3.92 percent, down from 3.95 percent last week and the lowest on record.

    Rates have fallen since spring as investors sought the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.
  2. It is not the FED forcing the mortgage rates to go down

    It is the consumers who are shy of getting into mortgage