Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Mortgage rates sank to or near all-time lows this week as turmoil in financial markets had investors moving money into the relative safety of bonds and mortgage-backed securities that fund most home loans.Rates on 30-year fixed-rate mortgage hit a low for the year, averaging 4.32 percent with an average 0.7 point for the week ending Aug. 11, Freddie Mac said in releasing the results of its latest Primary Mortgage Market survey.That's down from 4.39 percent last week and a 2011 high of 5.05 percent in February, and not far off an all-time low in records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010.Rates on 15-year fixed-rate mortgages, 5-year adjustable-rate mortgage (ARM) loans 1-year ARMs all hit new all-time lows this week.For 15-year fixed-rate mortgages, rates av...