Mortgage rates at lowest level in 3 months

mortgage ratesBy Nick Timiraos | The Wall Street Journal

Average mortgage rates fell to the lowest level since mid-November last week as unease over economic growth in the U.S. and market turmoil abroad drove investors to load up on government bonds, pushing down long-term interest rates.

The average rate on a 30-year fixed-rate mortgage was 4.47% last week, down from 4.52% the prior week, the Mortgage Bankers Association said Wednesday. Mortgage rates are tied to yields on the 10-year Treasury note, which closed at 2.64% on Tuesday amid market jitters.

But the moderate decline in mortgage rates hasn’t yet triggered any meaningful gain in home-loan refinancing. Applications for refinancings were up 3% from a week earlier but remain at extremely low levels. Refinancings accounted for 62% of loan applications last week, unchanged from the prior week.

Continued: 

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

February 2014
M T W T F S S
 12
3456789
10111213141516
17181920212223
2425262728