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4.10: Mortgage Rates Change Little

  • October 27th 2011

by Shilpi Paul

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4.10: Mortgage Rates Change Little: Figure 1

Mortgage rates held steady for the second consecutive week following mixed consumer confidence and housing data. Freddie Mac reported 4.10 with an average 0.8 of a point as the average on 30-year fixed mortgages. After hitting an all-time low three weeks ago, rates remain near 60-year lows, dropping ever so slightly from last week’s 4.11 percent.

From Frank Nothaft, Freddie Mac’s chief economist:

The latest monthly housing market indicators were mixed, with consumer confidence soft, house prices largely flat, and new home sales up from very low levels.Consumer confidence fell below the market consensus forecast in October to the lowest reading since March 2009, according to The Conference Board…new home sales increased 5.7 percent in September to the strongest pace since April.

Here’s a look at the path of rates since last January:

4.10: Mortgage Rates Change Little: Figure 2

See other articles related to: freddie mac, interest rates, mortgage rates, mortgages

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/4.10_mortgage_rates_change_little/4456.

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