Mortgage rates sagged this week as ongoing concerns about the European debt crisis had investors fleeing to the relative safety of mortgage-backed securities that fund most U.S. home loans.

Rates on 30-year fixed-rate mortgages averaged 4 percent

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On the heels of the Federal Reserve  announcement that interest rates would remain exceptionally low for at least two more years, mortgage rates fell to new lows this week.

Freddie Mac says a 30-year fixed-rate mortgage fell to an average of 4.32 percent in the week ending Aug. 11, the lowest level of the year. Fifteen-year fixed-rate mortgages fell to an average of 3.5 percent, the lowest since Freddie Mac has been keeping track.

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Mortgage rates were mostly flat in the past week amid a series of mixed reports on the health of the U.S. economy, according to Freddie Mac's weekly survey of mortgage rates.

"Although both the overall producer price index and consumer price index fell moderately in June on lower energy costs, the core price indexes inched up," said Freddie Mac Chief Economist Frank Nothaft, adding that a consumer sentiment reading fell to the lowest level since March 2009.

The 30-year fixed-rate mortgage inched up to 4.52% in the week ended Thursday, from 4.51% the previous week, though that is down from last year's rate of 4.56%. Rates on 15-year fixed-rate mortgages were 3.66%, compared with 3.65% last week and 4.03% a year earlier.

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Fixed mortgage rates stayed roughly flat after falling for eight weeks.

The average rate on the 30-year loan ticked up from a yearly low of 4.49 percent to 4.50 percent, Freddie Mac said Thursday. The average rate on the 15-year fixed mortgage, a popular refinance option, fell to 3.67 percent from 3.68 percent.

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MCLEAN, Va., May 5, 2011 / PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey®(PMMS^®), which shows mortgage rates drifting lower with the 30-year fixed-rate mortgage matching the yearly low of 4.71 percent, and the 15-year fixed hitting a new yearly low of 3.89 percent.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.71 percent with an average 0.7 point for the week ending May 5, 2011, down from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.00 percent.  

 

• 15-year FRM this week averaged 3.89 percent with an average 0.7 point, down from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.36 percent.  

Read more: http://freddiemac.mediaroom.com/index.php?s=12329&item=34645 

MCLEAN, Va., April 28, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates falling for the second consecutive week. The 30-year fixed-rate stands at 4.78 percent; the 15-year fixed at 3.97 percent, the lowest since December 9, 2010.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending April 28, 2011, down from last week when it averaged 4.80 percent. Last year at this time, the 30-year FRM averaged 5.06 percent.  

 

• 15-year FRM this week averaged 3.97 percent with an average 0.7 point, down from last week when it averaged 4.02 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  

Read the rest of the newswire on Freddie Mac's website : http://freddiemac.mediaroom.com/index.php?s=12329&item=34002

30-year Fixed-Rate Mortgage (FRM) averaged 4.80% with an average 0.7 discount point for the week ending April 21, 2011, down from last week when it averaged 4.91 percent. Last year at this time, the 30-year FRM averaged 5.07%.  

At Guardian Mortgage, our 30 year fixed rate mortgage is at 4.875% with NO discount points!

Read more about weekly rates from Freddie Mac: http://freddiemac.mediaroom.com/index.php?s=12329&item=33883