Thursday, January 15, 2009, News from Freddie Mac, 30 year fixed mortgage rate fell again, now under 5%. 30 year fixed mortgage rate already fell for the 11th week in a row to 4.96%, with an average 0.7 point for the week ending Jan. 15. In the previous week, the average was 5.01%, while the year-ago average was 5.69%.
The continuing decline in 30-year fixed rate mortgages was partly attributed to the slowing economy and to government actions to help the housing sector, according to Frank Nothaft, Freddie Mac chief economist. “So far, both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which place downward pressure on interest rates for fixed-rate mortgages.
The Federal Reserve may add up to an additional $570 billion more this year, based on its Nov. 25, 2008, announcement, to further shore up mortgage lending and keep rates low,” Nothaft said in a statement.
What about FHA Loan Rates, will fell too?
Check the FHA loan rates online, go to your FHA banks or question your FHA lender now.
For you who want to refinance your home, you can question about FHA refinance loans too. With low interest rates, you can take more benefits. You can get cash money and low monthly payment too.
If you want to buy a home, first time homebuyers, you can start from this site.
Read other articles about FHA loan rates, FHA loans, FHA refinance loans, FHA mortgage etc. Know it, question your lender or professional advisor then choose the right program for you.
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Household Balance Sheet Repair Continues | According to the Federal Reserve's calculations, the net worth of U.S. households as of last December had increased by $5.7 trillion (up 11.6%) from the low of last March. ... It appears that an FHA loan is the most suitable for us because we don't have a lot of cash for a down payment. I'm wary of programs sponsore [?] Jeffrey Lee Nelson; US mortgage rates drop 2nd straight wk-Freddie Mac March 11, 2010. US mortgage rates drop ...