Home | Newsletter | Advertise
loading...

Getting Trendy: 4.09 Another Record Low for Mortgage Rates

  • September 15th 2011

by UrbanTurf Staff

Getting Trendy: 4.09 Another Record Low for Mortgage Rates: Figure 1

A week ago, long-term mortgage rates set an all-time low of 4.12 percent. Yet again today, rates broke a record, with Freddie Mac reporting 4.09 percent with 0.7 of a point as the average on a 30-year fixed mortgage, the lowest rate since tracking began in 1971.

From Freddie Mac vice president and chief economist Frank Nothaft:

Continued investor concerns over the state of the European debt markets kept U.S. Treasury bond yields low and allowed mortgage rates to ease once more this week. In comparison, the average interest rate of mortgages outstanding in the second quarter was 5.28 percent. By refinancing into today’s 30-year fixed mortgage, homeowners could shave almost $1,715 a year in interest payments on a $200,000 loan.

In related housing news, mortgage-default notices filed by banks jumped by 33 percent between July and August, the highest level in several months and a sign that banks are restarting foreclosure proceedings following the robo-signing mess of a year ago.

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

Getting Trendy: 4.09 Another Record Low for Mortgage Rates: Figure 2

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

This article originally published at https://dc.urbanturf.com/articles/blog/getting_trendy_4.09_another_record_low_for_mortgage_rates/4156.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse