Industry NewsMortgage

Mortgage rates hover around all-time lows

Demand for purchase loans near 15-year low
Published on Sep 1, 2011

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by CareyBot

Mortgage rates remained at or near historic lows this week on continued weak economic and housing data, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.

A separate survey by the Mortgage Bankers Association showed low rates aren't getting buyers off the fence, with demand for purchase loans remaining near 15-year lows last week.

Freddie Mac's survey showed rates on 30-year fixed-rate mortgages averaged 4.22 percent with an average 0.7 point for the week ending Sept. 1, unchanged from last week but well below the 2011 high of 5.05 percent seen in February. The average for a 30-year fixed-rate mortgage hit an all-time low, in records dating to