Home / News Summary: US mortgage rates dip to record lows

News Summary: US mortgage rates dip to record lows

My Fox Spokane Biz
News Summary: US mortgage rates dip to record lows
Submitted by Fox First at Ten on July 12th

By The Associated Press

RATES FALL: Average U.S. rates on fixed mortgages fell again this week to the lowest levels on record, giving buyers more incentive to brave the housing market.

THE NUMBERS: The rate on the 30-year loan dipped to 3.56 percent, mortgage buyer Freddie Mac says. That's the lowest since long-term mortgages began in the 1950s. The rate on the 15-year mortgage declined to 2.86 percent, also a record.

OUTLOOK: Cheap mortgages have contributed to a modest housing recovery. Home sales are up from a year ago and home prices are rising.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Post new comment

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

Comments

Most Popular Stories

Obama To Visit Tornado-Ravaged OK Town

Obama To Visit Tornado-Ravaged OK Town
Submitted by Fox First at Ten on May 22nd
WASHINGTON (AP) - President Barack Obama will travel to tornado-ravaged Moore, Okla., on Sunday.    That's according to a White House official, who wasn't authorized to publicly discuss the trip ahead of the official announcement and requested anonymity.    A

Small Fla. city anxious to learn jackpot winner

Small Fla. city anxious to learn jackpot winner
Submitted by Fox First at Ten on May 20th
By TAMARA LUSH and BARBARA RODRIGUEZAssociated Press ZEPHYRHILLS, Fla. (AP) - It could be an anxious wait of up to two months for people in a small Florida city to find out who won the highest Powerball jackpot in history: an estimated $590.5 million. The lucky ticket was bought sometime Saturday

SAY WHAT?!? Freak Snow In Washington State Town Cancels School

SAY WHAT?!? Freak Snow In Washington State Town Cancels School
Submitted by Fox First at Ten on May 22nd
BICKLETON, Wash. (AP) - A freak snow has given students a snow day in May in the Klickitat County town of Bickleton.    School Superintendent Ric Palmer says 10-to-12 inches fell in places overnight and heavy snow brought some tree branches down on lines, knocking out power and