Benchmark home mortgage rates declined slightly over the past week, but other home loan products made slight gains, Freddie Mac said in its weekly survey.
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Rates on 30-year mortgages sank this week to their lowest point since late May, providing a ray of hope for prospective home buyers.
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Fallout from the subprime lending crisis is pushing up rates on numerous large loans. Those taking on debt greater than a certain size to buy or mortgage refinance will feel the sting.
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Mortgage rates inched up this week, but Freddie Mac was said Thursday that the mild rise was not inspired by troubles with bad credit home loans.
Across the nation, mortgage rates fell for the third straight week, a trend coming only after they rose substantially over the previous several months.
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Rates on 30-year mortgages barely moved in the past week, inching down to 6.68 percent from 6.69 percent, according to a weekly survey released by Freddie Mac.
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It sounds simple, yet a lot of borrowers in trouble with mortgage payments never consider the possibility when it comes to home loan rates.
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U.S. home mortgage loan rates fell a bit this week after rising sharply over the past two months, a Freddie Mac survey released Thursday shows.
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Mortgage rates held onto last week’s substantial gains, ending mixed on the week, the weekly Freddie Mac survey showed Thursday.
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The price of money has gone up.
Or more technically, long-term mortgage interest rates have jumped in recent months, raising borrowing costs and rattling an already slumping market.
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