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By Bloomberg News | October 14, 2010
U.S. mortgage rates fell for a third straight week to the lowest level on record, extending a slide in borrowing costs as housing demand slumps. Rates for 30-year fixed loans declined to 4.19 percent in the week ended Thursday from 4.27 percent, Freddie Mac said in a statement. It is the lowest rate since the McLean, Va.-based company began tracking the data in 1971. The average 15-year rate tumbled to 3.62 percent from 3.72 percent. A six-month decline in mortgage rates has spurred a surge in refinancing while doing little to increase property demand as U.S. unemployment hovers near 10 percent.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | July 1, 2014
The Maryland Department of Housing and Community Development said Tuesday it will extend for the long-term a program that offers reduced mortgage rates for veterans and active-duty military, while scaling back the initial incentive. The new "Maryland Homefront" loans will carry interest rates a quarter of a percent lower than those offered under Maryland Mortgage Program, or about 3.75 percent. That's half the discount of the first Homefront loans announced just before July 4 two years ago. At the time, the state had reserved $50 million for the incentive.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 17, 2010
Blame Greece's debt crisis for contributing to the recent drop in your stock portfolio, but give it credit for something that could benefit consumers: lower mortgage rates. Last week, rates on fixed-rate mortgages fell to their lowest level this year, while rates on adjustable-rate loans dipped to a point not seen for years, according to a weekly survey by mortgage giant Freddie Mac. The average 30-year fixed-rate mortgage slipped to 4.93 percent last week, down from 5 percent the week before and down to the lowest level since early December.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 9, 2014
Prepare for a year of more in the real estate industry - more improvement, mostly, but also more expense as mortgage rates, prices and rents rise. Analysts expect a solid 2014 here and nationally, after a year in which the battered housing market got on firmer footing. They predict home values will continue rising and expect to see more choices for home buyers as higher prices pull in more would-be sellers. Moody's Analytics is forecasting an 8 percent rise in average home prices in the Baltimore region this year, compared with a 5.6 percent increase last year.
BUSINESS
By BLOOMBERG NEWS | September 12, 2004
The average rate on a benchmark 30-year fixed mortgage rose to 5.83 percent in the U.S. last week, staying close to a five-month low, according to Freddie Mac, the second-biggest purchaser of home loans The 30-year rate increased from 5.77 percent a week earlier, the lowest since 5.52 percent during the week that ended April 2. The one-year adjustable rate rose to 4 percent from 3.97 percent, the McLean, Va.-based company said in a statement. Interest rates increased after the Labor Department reported this month that employers added 144,000 workers to payrolls last month, twice as many as in July.
BUSINESS
By Eileen Ambrose | August 18, 2011
Mortgage giant Freddie Max reports the interest rate on 30-year mortgages have fallen to their lowest levels in more than 50 years. The 30-year fixed-rate mortgage averaged 4.15 percent for the week ending today.  A 15-year fixed rate loan fell to 3.36 percent. Freddie Mac's chief economist credits the Fed's pledge to keep rates low for two years as one reason for the favorable terms. Plus, jitters over the European debt crisis also contributed to low rates.  
NEWS
By John E. Woodruff and John E. Woodruff,Sun Staff Writer | June 9, 1994
Maryland mortgage interest rates have fallen by a half-percentage point in three weeks, a welcome boost for the state's recovery and the first relief from soaring home-financing costs this year.For Maryland's economy, which has been lagging behind the national recovery for nearly three years as its traditional mainstays such as defense, financial institutions and health care have been hard hit, mortgage rates are even more critical than in other states."The fundamentals suggest lower long-term interest rates ahead, and that is very good news for Maryland, which has come to depend so heavily on housing construction to beef up its precarious recovery," said Charles McMillion, president of MBG Information Services, a Washington consulting firm that tracks the state economy.
BUSINESS
By BLOOMBERG NEWS | August 24, 2003
The average U.S. 30-year fixed-rate mortgage rose for the eighth time in nine weeks, reflecting the continued rise in long-term bond yields, Freddie Mac said. Other rates also climbed. The 30-year rate for the week that ended Friday averaged 6.28 percent, up from 6.24 percent the week before, the No. 2 buyer of mortgages reported. The average rate on a 15-year mortgage rose to 5.60 percent from 5.58 percent, and the average one-year adjustable-rate mortgage climbed to 3.84 percent from 3.75 percent.
BUSINESS
By Glenn Burkins and Glenn Burkins,Knight-Ridder News Service | October 6, 1991
Mortgage rates have dipped to a 14-year low. So if you're planning to refinance, now is a good time.Here are some tips to help avoid a fight with Uncle Sam.* If you pay points to refinance, you may deduct them from your federal income tax, but the deduction must be spread over the life of the loan. (A point is an upfront interest charge equal to 1 percent of the loan amount.)* If the refinancing is in the form of a home-equity loan for home improvements, points are fully deductible in the year they are paid.
BUSINESS
By JAY HANCOCK | March 23, 2008
Mortgage rates show signs of getting back to normal, suggesting that last week's extraordinary action by the Federal Reserve is having its intended effect. Normally the yield on long-term Treasury debt is a good indicator of where mortgage rates will head. But lately the relationship has broken down. Treasury yields fell while mortgage rates rose. The difference between the 10-year Treasury yield and the 30-year fixed mortgage rate was about 1.5 percentage points early this year. But in late February the gap started getting wider and eventually yawned far past 2 percentage points.
NEWS
Jamie Smith Hopkins | June 1, 2012
The state's mortgage program is offering a come-on it hopes buyers will respond to -- a 2.875 percent interest rate. The Maryland Mortgage Program has $30 million set aside to make loans at that rate over the next three months or until the money is used up. The going rate nationwide, according to Freddie Mac , is about 3.75 percent this week . What's the catch for the lower rate? It's not available in most of Maryland. Here's a map of the "targeted areas," which in this region includes Baltimore and small slices of Baltimore County , Anne Arundel and Harford . Also, you must live in your home, which means you can't turn landlord later with a MMP loan if you're having trouble selling the place.
NEWS
By Brian Rogers, Special to The Baltimore Sun | May 10, 2012
My first memories of The Baltimore Sun go back to 1982, when my wife and I were planning to move to Baltimore from Massachusetts. In the days before the Internet, home buyers turned to The Sun 's classified ads to get their arms around the range of housing alternatives. Thirty years ago was not only a time when The Sun 's real estate section was the go-to source for home listings, but it was also a time of low-teens mortgage rates and a housing crisis (albeit not quite as bad as our most recent crisis)
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 4, 2012
Wells Fargo borrowers potentially eligible for mortgage rate reductions under the national settlement with big banks are being notified this month, Maryland's attorney general said Friday. The lender is mailing out rate-reduction offers in waves, meaning that some borrowers already might have received their letter, said the office of Attorney General Douglas F. Gansler. In a statement, Gansler urged homeowners to "respond as soon as possible. " Those who don't get an offer in the mail by the end of May but think they're eligible should call the bank at 800-288-3212, he added.
BUSINESS
By Eileen Ambrose | August 18, 2011
Mortgage giant Freddie Max reports the interest rate on 30-year mortgages have fallen to their lowest levels in more than 50 years. The 30-year fixed-rate mortgage averaged 4.15 percent for the week ending today.  A 15-year fixed rate loan fell to 3.36 percent. Freddie Mac's chief economist credits the Fed's pledge to keep rates low for two years as one reason for the favorable terms. Plus, jitters over the European debt crisis also contributed to low rates.  
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 | December 10, 2010
Home sales in the Baltimore metro area continued to plummet in November, but the number of newly signed contracts rose for the first time in months — good news for a battered housing market, if the trend continues. Homebuyers signed 6 percent more contracts last month than they did a year earlier, according to figures released Friday by Metropolitan Regional Information Systems, the Rockville company that runs the area's multiple-listing service. That upturn broke the streak of buyer pullback since May, when a federal tax credit intended to inject life into the struggling market phased out. New contracts, which often turn into home sales in a month or two, are a key indicator of where the market is headed.
BUSINESS
By Bloomberg News | October 14, 2010
U.S. mortgage rates fell for a third straight week to the lowest level on record, extending a slide in borrowing costs as housing demand slumps. Rates for 30-year fixed loans declined to 4.19 percent in the week ended Thursday from 4.27 percent, Freddie Mac said in a statement. It is the lowest rate since the McLean, Va.-based company began tracking the data in 1971. The average 15-year rate tumbled to 3.62 percent from 3.72 percent. A six-month decline in mortgage rates has spurred a surge in refinancing while doing little to increase property demand as U.S. unemployment hovers near 10 percent.
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