Mortgage Rate Falls
Under 4 Percent for 30-Year
Fixed, 30-year mortgage interest dipped to 3.97 percent this week -- the lowest average since June of last year, according to Freddie Mac. The benchmark rate is down from 4.12 percent last week, largely in response to broader economic developments and concerns. If the bargain borrowing costs linger, experts say a refinance boomlet could surface. Many "underwater" homeowners who could not refinance during previous low-rate periods have returned to positive equity and may now be in a position to rework their loan terms.
From "Mortgage Rate Falls Under 4 Percent for 30-Year"
Wall Street Journal (10/17/14) P. C6 Light, Joe
Fixed, 30-year mortgage interest dipped to 3.97 percent this week -- the lowest average since June of last year, according to Freddie Mac. The benchmark rate is down from 4.12 percent last week, largely in response to broader economic developments and concerns. If the bargain borrowing costs linger, experts say a refinance boomlet could surface. Many "underwater" homeowners who could not refinance during previous low-rate periods have returned to positive equity and may now be in a position to rework their loan terms.
From "Mortgage Rate Falls Under 4 Percent for 30-Year"
Wall Street Journal (10/17/14) P. C6 Light, Joe
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