Posted in General on March 18th, 2009 at 10:47 AM
Freddie Mac: 30-year mortgage rate falls to 5.03%
By Sue Chang
SAN FRANCISCO (MarketWatch) -- Freddie Mac (FRE) said Thursday the 30-year fixed-rate mortgage average
fell from the previous week to 5.03% with an average 0..7 point for the week
ending March 12. In the previous period, the average was 5.15%, and the
year-ago average was 6.13%. "New home sales fell 10.2% in January to the
slowest pace since records began in January 1963 while pending existing home
sales slowed by 7.7%, the weakest since the series began in January 2001. More
recently the Federal Reserve noted in its March 4th regional economic report that
residential real estate markets remained in the doldrums in most areas, with
only scattered, very tentative signs of stabilization," said Frank
Nothaft, Freddie Mac chief economist, in a statement.
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