Rates On 30 Year

Average rates on 30-year mortgages fell again last week, t 7.19 percent from 7.23 percent, according to the Federal Home Loan Mortgage Corp.Baltimore rates were also down to 7.19 percent, from 7.20 percent the week before.Statistics, Page 4H

U.S. mortgage rates again at record low WASHINGTON: Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year, fixed-rate mortgages dropped to 4.78 percent this week, from 4.85 percent last week. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago. "Mortgage rates followed other interest rates lower this week amid reports of slower economic growth," Frank Nothaft, Freddie Mac vice president and chief economist, said in a prepared statement.

WASHINGTON - Mortgage rates around the country fell last week for the first time since the middle of last month. The average interest rate on 30-year fixed-rate mortgages dropped to 6.04 percent for the week ending Friday, Freddie Mac reported Thursday in its weekly nationwide survey. That was down from 6.19 percent the previous week. Last week's rates marked the first time rates on 30-year, 15-year and one-year adjustable-rate mortgages fell since the week ending Nov. 15. At that time, rates on 30-year mortgages dropped to 5.94 percent, the lowest level since the mortgage giant began tracking them in 1971.

Aberdeen Proving Ground signs first BRAC tenant A business park under construction outside the north entrance of Aberdeen Proving Ground has signed its first tenant related to federal base restructuring, the park's developer said yesterday. Columbia-based Corporate Office Properties Trust said it has a long-term lease with the MITRE Corp. for 54,000 square feet in the first building under way in North Gate Business Park. The three-story building is scheduled for completion in the second quarter of next year.

Rates on 30-year fixed mortgages rose last week for the first time in five weeks, according to the Federal Home Loan Mortgage Corp.The average national rate for 30-year mortgages was 6.86 percent, up from 6.74 the previous week, according to Freddie Mac.Fifteen-year mortgages averaged 6.40 percent, up from 6.31 percent. For one-year adjustable mortgages, the average initial rate was 4.19 percent, up from 4.14 percent.The rate started the year just above 8.07 percent and has been falling for most of 1993, except briefly during the spring when investors became temporarily nervous about inflation.

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.

Home sales in the Baltimore region rose 6 percent in June, a slight increase compared with gains in recent months but a healthy sign in a climate of higher mortgage rates, the Greater Baltimore Board of Realtors said yesterday.For the month, 1,902 homes sold in Baltimore and Baltimore, Howard, Harford and Carroll counties, compared with 1,789 sales in June 1995, the board said.The sales increase fell far short of the board's reported gains of 29 percent in May and 35 percent in April. The number of contract signings, which indicate coming sales, climbed 12 percent in June but failed to keep pace with increases of 40 percent in April and 28 percent in May."

U.S. mortgage rates again at record low WASHINGTON: Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year, fixed-rate mortgages dropped to 4.78 percent this week, from 4.85 percent last week. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago. "Mortgage rates followed other interest rates lower this week amid reports of slower economic growth," Frank Nothaft, Freddie Mac vice president and chief economist, said in a prepared statement.

WASHINGTON - The average rate on a 30-year mortgage has climbed above 6 percent for the first time since July, suggesting that housing sales may start to slow as borrowing costs rise. Mortgage giant Freddie Mac, in its weekly survey of mortgage rates nationwide, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.01 percent for the week that ended March 24. The rate was up from 5.95 percent the previous week and was the highest since the week that ended July 27, when rates averaged 6.08 percent.

Most lenders have a message for homeowners who have put off refinancing their mortgage: Interest rates have already hit bottom and are on their way up, at least for now.Rates have climbed up over 8 percent during the past week, and are up about a half a percentage point over the past two weeks.Most lenders are offering fixed rate 30-year mortgages with interest rates of about 8.3 percent and charging two points. Points are fees a lender charges to handle a loan. One point is equal to 1 percent of the loan amount.

The economic turmoil of 2008 has left few bright spots, but here's one: Mortgage rates have plummeted. Rates on 30-year, fixed loans are hovering around 5 percent - the lowest level since Freddie Mac began tracking rates in 1971. Some economists predict a further slide in rates once Barack Obama becomes president and rolls out an economic rescue plan. And that could mean thousands of dollars in savings for Maryland homeowners. "The people who have done everything right are now going to benefit, and will be very well rewarded," said Mari Adam, a financial planner and owner of Adam Financial Associates Inc. in Boca Raton, Fla. "We are saying to our clients, anyone who can refinance should refinance.

CHICAGO - The Federal Reserve has aggressively cut interest rates. Houses are sitting around unsold. The stage appears to be set for mortgage rates to fall as lenders compete to attract that scarce quarry: the well-qualified homebuyer. You wish. Rates on 30-year fixed-rate mortgages have remained stubbornly above 6 percent for months. Interest rates on those loans are averaging 6.09 percent, mortgage investor Freddie Mac reported Thursday, an increase from the 6.08 percent the previous week.

WASHINGTON - The average rate on a 30-year mortgage has climbed above 6 percent for the first time since July, suggesting that housing sales may start to slow as borrowing costs rise. Mortgage giant Freddie Mac, in its weekly survey of mortgage rates nationwide, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.01 percent for the week that ended March 24. The rate was up from 5.95 percent the previous week and was the highest since the week that ended July 27, when rates averaged 6.08 percent.

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.

WASHINGTON - Mortgage rates around the country fell last week for the first time since the middle of last month. The average interest rate on 30-year fixed-rate mortgages dropped to 6.04 percent for the week ending Friday, Freddie Mac reported Thursday in its weekly nationwide survey. That was down from 6.19 percent the previous week. Last week's rates marked the first time rates on 30-year, 15-year and one-year adjustable-rate mortgages fell since the week ending Nov. 15. At that time, rates on 30-year mortgages dropped to 5.94 percent, the lowest level since the mortgage giant began tracking them in 1971.

Home sales in the Baltimore region rose 6 percent in June, a slight increase compared with gains in recent months but a healthy sign in a climate of higher mortgage rates, the Greater Baltimore Board of Realtors said yesterday.For the month, 1,902 homes sold in Baltimore and Baltimore, Howard, Harford and Carroll counties, compared with 1,789 sales in June 1995, the board said.The sales increase fell far short of the board's reported gains of 29 percent in May and 35 percent in April. The number of contract signings, which indicate coming sales, climbed 12 percent in June but failed to keep pace with increases of 40 percent in April and 28 percent in May."