Industry NewsMortgage

Mortgage rates settle down in June

Home loans remain at or near 2011 lows for 4th consecutive week
Published on Jun 30, 2011

Mortgage rates have held rock steady throughout June at or near lows for the year, as interest rates on fixed-rate loans remained virtually unchanged this week for the fourth consecutive week, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

A separate survey by the Mortgage Bankers Association showed demand for purchase loans was down slightly last week compared the week before but up from the same time a year ago.

Freddie Mac's survey of 125 lenders nationwide showed rates on 30-year fixed-rate mortgages averaging 4.51 percent with an average 0.7 point for the week ending June 30, virtually unchanged from 4.5 percent last week and down from 4.58 percent a year ago.

Rates on 30-year fixed-rate mortgages hit a 2011 low of 4.49 percent during the first week of June. After hitting an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, rates on 30-year fixed-rate l...

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