Freddie Mac: Record low mortgage rates haven’t rescued housing

Rates on the 30-year fixed-rate mortgage averaged 4.15% for the week ending July 10, according to Freddie Mac’s weekly survey of conforming mortgage rates. A year ago, rates averaged 4.51%.

Rates followed the yield on U.S. Treasury bonds, which fell on worries that the crisis in Japan could slow economic growth. Freddie Mac said Tuesday. safer investments. Low mortgage rates haven’t.

The average rate on the 30-year fixed mortgage hovered above its record low for a sixth straight week. But the super-low rates aren’t providing a lift to the struggling housing market. Freddie Mac.

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Default rates are low, and risky borrowers have been locked out of the mortgage market since 2008," he notes.. while Fannie Mae and Freddie Mac buy mortgage loans from commercial banks and.

The housing market has started to recover more than five years after the bubble burst. Home sales are up from a year ago, helped by a limited supply and record-low mortgage rates. builders are more confident and have started to construct more homes. And home prices are showing consistent gains.

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WASHINGTON (AP) – Mortgage giant Freddie Mac is reporting net income. to private investors during the quarter. Record-low interest rates in recent years have helped spur home purchases and boosted.

NEW YORK (AP) – The average rate on the 30-year fixed mortgage edged up this week as bond yields increased.Freddie Mac said Thursday the average rate rose to 4.81 percent this week from 4.80.

For a 30-year fixed-rate mortgage, the typical rate for solid borrowers had been 4.09% last week and early this week, according to mortgage finance giant Freddie Mac. That’s within a whisker of the.

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