By:Dennis Norman
Last week the average interest rate on 30-year fixed-rate mortgages dropped to 5.53% from 5.97%,making it the biggest one-week fall in 27 years! The Mortgage Bankers Associaiton also reported that mortgage loan applications were up over 100% during the week of November 24th after news that the Fed’s plan to buy mortgages.
In addition,as I reported last week,The Treasury Department is strongly considering a plan promoted by the National Association of REALTORS(R) to intervene directly in the mortgage industry by buying down mortgage interest rates to 4.5%.
Related posts:
- Mortgage interest rates drop this week;lowest since May
- Home Mortgage Applications Last Week Drop;Interest Rates Declined Slightly
- Mortgage interest rates drop slightly-Mortgage applications increase
- 30 Year Mortgage Interest Rates Drop Below 5 Percent
- Home purchase mortgage applications decline;interest rates drop
