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By BLOOMBERG NEWS | April 27, 2003
The rate on 30-year U.S. fixed mortgages fell for a second week amid signs of sluggish economic growth, according to Freddie Mac, the No. 2 buyer of mortgages. The average rate on a 30-year fixed-rate mortgage decreased to 5.79 percent for the week that ended Friday, from 5.82 percent the week before. That compares with a record low of 5.61 percent in mid-March. Freddie Mac began keeping records in 1971. The average rate on a 15-year mortgage, a popular refinancing option, held at 5.12 percent.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | January 10, 2014
The Baltimore region had its best year for home sales since the start of the recession, as the local housing market continued its slow recovery in 2013. About 27,750 units closed in 2013, up roughly 14 percent from 2012, according to data provided by RealEstate Business Intelligence, a subsidiary of the online listing service MRIS. In 2007, about 31,300 units sold, down from nearly 38,000 in 2006. The median sale price also increased last year in Baltimore and its five surrounding counties, up an average of 4.3 percent over 2012, according to RBI. John Kantorski, a real estate agent for Cummings and Co. Realtors, said 2013 had been his best year to date.
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BUSINESS
By BLOOMBERG NEWS | March 23, 2003
U.S. mortgage rates rose last week from record lows as war with Iraq moved closer, according to Freddie Mac, the No. 2 buyer of mortgages. The increase may be limited by concerns about the war's duration, the lender said. The average rate on a 30-year fixed-rate mortgage rose for the first time in nine weeks, reaching 5.79 percent. That compares with a record-low 5.61 percent the prior week. The group began keeping records in 1971. The average rate on a 15-year mortgage, a popular refinancing option, increased to 5.11 percent from 4.93 percent.
NEWS
By Kevin Rector, The Baltimore Sun | November 20, 2012
Most major crime was down in Baltimore County during the first half of 2012 compared with the average rate of crime during the same time frame in the past five years, according to Baltimore County police. Rapes, the exception to the overall 8.6 percent decline, increased. The first six months of the year showed homicides, robberies and aggravated assaults, all considered "Part I violent crime," had declined compared with the previous five-year average, Police Chief James Johnson wrote in a summary of the statistics posted on the county website Tuesday.
BUSINESS
By BLOOMBERG NEWS | April 13, 2003
U.S. mortgage rates rose last week to about the average for this year, according to Freddie Mac, the No. 2 buyer of mortgages. Rates are expected to stay close to record lows amid economic weakness. The average rate on a 30-year fixed mortgage increased to 5.85 percent for the week that ended Friday from 5.79 percent. That compares with a record-low 5.61 percent in mid-March and an average of 5.84 percent since the start of this year. During the corresponding period in 2002, the rate averaged 6.98 percent.
BUSINESS
By BLOOMBERG NEWS | April 20, 2003
U.S. mortgage rates fell last week, hovering close to record lows, which may help support the housing industry and buoy the economy during the coming months, according to Freddie Mac, the No. 2 buyer of mortgages. The average rate on a 30-year fixed-rate mortgage decreased to 5.82 percent for the week that ended Friday from 5.85 percent the previous week. That compares with a record-low 5.61 percent in mid-March and an average rate of 5.84 percent since the start of this year. The 30-year rate averaged 6.54 percent in 2002.
BUSINESS
By Bloomberg News | January 5, 2003
The average rate on a 30-year fixed mortgage fell last week to the lowest level in almost four decades, according to Freddie Mac, the No. 2 buyer of U.S. mortgages. The 30-year rate declined to 5.85 percent in the week that ended Friday, the lowest since the early 1960s, from 5.93 percent. The average rate on one-year adjustable mortgages rose to 4.06 percent, up from a rate of 4.01 percent that was the lowest in almost two decades of recordkeeping. "Just when we were sure mortgage rates couldn't possibly drop any lower, we were surprised yet again," said Frank Nothaft, chief economist at Freddie Mac. "We continue to expect, however, that rates will hover around 6 percent for at least another few months."
BUSINESS
By Bloomberg News | April 10, 2005
Freddie Mac has raised its estimate for mortgage rates, saying "inflationary expectations" will keep the average 30-year fixed rate higher than 6 percent for the rest of the year. That rate probably will average 6.2 percent next year, Freddie Mac said in its latest forecast. A month ago, the McLean, Va., mortgage company, the nation's second largest, predicted a 6 percent average rate. Mortgage rates are rising as record oil prices are causing concern over higher inflation among investors in mortgage-backed securities, said Frank E. Nothaft, Freddie Mac's chief economist, in a report.
BUSINESS
By BLOOMBERG NEWS | July 17, 2005
WASHINGTON - An index of home mortgage applications fell after reaching its second-highest level in more than a year, a private group's survey showed. The Mortgage Bankers Association's measure of home purchases and refinancing declined 7.2 percent to 791.9 in the week ended July 8, which included the July 4 holiday, from 853.4 the week before. The group's home purchase index fell 6.1 percent to 489, still above an average of 455 last year, when sales were the highest ever. "If you look at mortgage application data as of last week, we were pretty much on historical highs for the purchase index, which does suggest continued strength," said Stephen Stanley, chief economist at RBS Greenwich Capital, before the report.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Staff Writer | November 7, 1993
It didn't last long.Three months ago, rates on 30-year fixed mortgages dropped below 7 percent for the first time in a quarter-century. Last week, they spiked back up.Some in the real estate industry said increased rates -- still considered low enough to attract homebuyers -- should have little effect on the housing market. But others said the rise above 7 percent likely would push fence-sitters to refinance or buy a house, especially first-time buyers.They also disagreed on whether rates had hit bottom.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 15, 2011
The silver lining in all this economic upheaval lately: low interest rates on consumer borrowing. Mortgage rates are at or near record lows, causing a jump in refinancing. Credit cards rates remain largely flat. And new car loans have been inching downward. But whether consumers will be able to take advantage of these low rates — or even want to — is uncertain. The best rates often are available to only the most creditworthy customers. And recent events, including the downgrading of the nation's credit rating, have shaken consumer confidence to the point where many might not want to take on more debt just yet, no matter how much rates decline.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 8, 2010
A state mortgage program aimed primarily at first-time buyers is lowering its interest rate and setting aside $100 million to lure people relocating as part of the military's base realignment and closure initiative. Officials want to help those buyers and aid the region's still-struggling housing market at the same time. Thousands of federal workers and contractors are moving to take jobs at Aberdeen Proving Ground, Fort Meade or one of several other installations in Maryland as part of the base changes, known as BRAC.
BUSINESS
By The Washington Post | December 27, 2009
After hitting an all-time low in early December, the average rate on a 30-year, fixed-rate mortgage rose to 5.05 percent last week and could climb to 6 percent by the end of 2010, if not sooner, according to giant mortgage financier Freddie Mac. The results are noteworthy because rates have not topped 5 percent since the last week of October, when they reached 5.03 percent, based on the results of this closely watched survey, which polls lenders during...
BUSINESS
By BLOOMBERG NEWS | July 17, 2005
WASHINGTON - An index of home mortgage applications fell after reaching its second-highest level in more than a year, a private group's survey showed. The Mortgage Bankers Association's measure of home purchases and refinancing declined 7.2 percent to 791.9 in the week ended July 8, which included the July 4 holiday, from 853.4 the week before. The group's home purchase index fell 6.1 percent to 489, still above an average of 455 last year, when sales were the highest ever. "If you look at mortgage application data as of last week, we were pretty much on historical highs for the purchase index, which does suggest continued strength," said Stephen Stanley, chief economist at RBS Greenwich Capital, before the report.
BUSINESS
By Bloomberg News | April 10, 2005
Freddie Mac has raised its estimate for mortgage rates, saying "inflationary expectations" will keep the average 30-year fixed rate higher than 6 percent for the rest of the year. That rate probably will average 6.2 percent next year, Freddie Mac said in its latest forecast. A month ago, the McLean, Va., mortgage company, the nation's second largest, predicted a 6 percent average rate. Mortgage rates are rising as record oil prices are causing concern over higher inflation among investors in mortgage-backed securities, said Frank E. Nothaft, Freddie Mac's chief economist, in a report.
BUSINESS
By EILEEN AMBROSE | November 7, 2004
THE LOW interest rates of the past few years have been particularly frustrating for retirees and others who favor conservative certificates of deposit for income. Now that rates are heading upward, these investors face a new challenge: Do they lock in money now in a fixed-rate CD and risk missing out on higher rates later, or wait? To remove some of the guesswork - and to attract or keep deposits - banks offer a variety of CDs that provide interest-rate flexibility. Some banks, for example, are promoting bump-up CDs that give investors a one-time option to increase their rate if interest rates rise.
BUSINESS
By BLOOMBERG NEWS | June 8, 2003
The National Association of Realtors raised its forecast for U.S. home sales this year, predicting a 0.3 percent increase to a record 6.56 million units, as falling mortgage rates make it possible for more people to buy houses. The new forecast, released last week, is 1.3 percent higher than the Washington trade group's projection a month ago, and would exceed the previous record of 6.54 million new and existing-home sales set last year. At the beginning of the year, the group forecast a drop of 3.8 percent in sales this year.
BUSINESS
By BLOOMBERG NEWS | October 3, 2004
The average rate on a benchmark 30-year fixed mortgage in the United States rose to 5.72 percent last week from 5.7 percent, according to Freddie Mac. The one-year adjustable rate fell to 3.97 percent from 4 percent, Freddie Mac said. The 15-year fixed rate rose to 5.12 percent from 5.1 percent. Rates on 30-year mortgages hit a high this year of 6.34 percent the week of May 13. Rates have slowly drifted downward as economic activity cooled in the late spring and early summer and inflation fears receded.
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