22 Jul 10 Freddie Mac Reports More Record Low Rates
Freddie Mac published their weekly rate report showing that rates for 30-year mortgages had dropped again to 4.56%. The mortgage icon reported that home loan rates declined to break the previous record set last week. Many first time home buyers will certainly make a move to lock the interest rate on their home loan.
The National Association of Realtors said today that last month’s sales fell 5.1% to a seasonally adjusted annual rate of 5.37 million. As previously reported, the housing market has been stalled since the federal tax credits for first home buyers expired on April 30th. Home refinance applications increased in recent weeks but home purchase loan applications have stalled. With home loan rates this low you have to wonder what kind of incentives consumers need to finance a home. Sales of previously occupied homes fell in June and are expected to keep sinking. The National Association of Realtors said Thursday that last month’s sales fell 5.1% to a seasonally adjusted annual rate of 5.37 million. The housing market stalled after federal tax credits for homebuyers expired at the end of April. Home sales have dropped off, homebuilder confidence has waned and consumer sentiment is in the dumps.
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Tags: 30-year home mortgages
