I stopped questioning whether mortgage rates could fall any further, once the average for 30-year, fixed-rate mortgages fell below 4 percent.
Now, 30-year rates are well below that level and the average for 15-year, fixed-rate home loans is close to dipping below 3 percent. Both rates, the former, a popular option for buying, and the latter, for refinancing, set new record lows again this week.
Thirty-year, fixed-rate mortgages averaged 3.84 percent with an average 0.8 point this week, down from 3.88 percent a week ago, according to the weekly survey by mortgage giant Freddie Mac. The previous low of 3.87 percent was reached Feb. 9.
The average for 15-year, fixed-rate residential loans was 3.07 percent with an average 0.7 point, down from 3.12 percent a week ago. The previous low was 3.11 percent, set April 12.
Low mortgage rates and lower asking prices are helping to stabilize the housing market. But buyers still remain cautious in a slowly improving economy in which the short-term outlook is still colored with uncertainty. And stricter mortgage underwriting is still demanding strong credit scores and sizeable down payments to get the best rates.
- -- ADVERTISEMENT --
- Patrick on New, Smaller Plan For Former Broadcast House Site In Hartford
- Unhealthy Jim on Auction House For Heavy Construction Equipment To Move From Stafford
- Timothy Classen on Rocker Kicks Off New Home Improvement Show In CT
- advising Americans against travel to the Cusco and Machu Picchu area of Peru. ete on Auction House For Heavy Construction Equipment To Move From Stafford
- Home Improvement | Home and Garden | Lighting | Decoration on Rocker Kicks Off New Home Improvement Show In CT
- Commercial Construction
- Commercial Transactions
- Downtown Hartford
- Foreclosure Sales
- Hartford Redevelopment
- Katharine Hepburn House
- Mortgage Fraud Settlement
- northland investment corp.
- On the Market: Commercial Properties For Sale
- Residential Real Estate Reports
- Stores and Restaurants
- Trading Spaces
- New, Smaller Plan For Downtown Hartford Apartment Project June 17, 2013
- Landmark Essex Windmill Up For Sale June 17, 2013
- Connecticut House Sales Slip Again In April June 17, 2013
- Ellen DeGeneres, Portia de Rossi Buy Montecito Mansion June 15, 2013
- -- ADVERTISEMENT --