mortgage rates News

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No One Should Have Been Surprised by the Plunge in Home Sales

(Aug. 25) -- Whenever there's housing news, I turn to economist Dean Baker, one of the few to foresee the housing bubble, for insight. He takes issue with this sentence from today's Washington Post story: "Analysts had expected sales to decline following the expiration of a federal tax credit for homebuyers this spring,...

Why Is the Housing Market Plummeting? 5 Theories

(Aug. 24) -- Sales of existing homes dropped 27.2 percent in July, accelerating the recent decline in the already frail housing market. This brings the number of existing houses sold to an annual rate of only 3.83 million units, the lowest figure since 1999. The number of single-family home sales hit its lowest level since...

Mortgage Rates Sink to Lowest Level on Record

WASHINGTON (June 24) - Mortgages are cheaper today than they've been in a half-century. If only most people had the job security, the credit score and the cash to qualify. The average rate for a 30-year fixed loan sank to 4.69 percent this week, beating the low set in December and down from 4.75 percent last week, Freddie...

Background on mortgage rates

A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan.

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