30-year mortgage

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Mortgage Rates Drop Below 4% for First Time

30-year fixed loans hit historic low

(Newser) - The average rate on the 30-year fixed mortgage this week fell below 4% for the first time ever, to 3.94%. And mortgage rates could fall even further now that the Federal Reserve plans to reshuffle its portfolio of securities to try and lower long-term rates. Freddie Mac said the... More »

We Need More Flexible Home Mortgages

Today's loans 'designed for yesterday's borrowers'

(Newser) - In an op-ed headlined "The 30-Year Prison," Katherine Stone lays out what she sees as a big problem contributing to the housing crisis: "Today's mortgages are designed for yesterday's borrowers." Long gone are the days when people had the same stable job for life, and it's... More »

Plummeting Mortgage Rates Near Record Low

Rate for 30-year mortgage again below 5%

(Newser) - Interest rates for fixed-rate mortgages decreased this week, with the rate for a 30-year mortgage falling 0.05% to an average 4.98%, near January’s record low of 4.96%, MarketWatch reports. Thirty- and 15-year mortgage rates are down nearly a full percentage point from a year ago. The... More »

Mortgage Rates Plunge to Lowest Ever

But plunging house values make refinancing impossible for many homeowners

(Newser) - The benchmark 30-year mortgage interest rate has fallen below 5% for the first time ever as the collapsing economy continues to force interest rates down. Adjustable-rate mortgages fell to 5.25%, reports MarketWatch. But many homeowners can't take advantage of the new low rates to refinance because the value of... More »

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