Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Read more

Fed Announces Low Interest Rates Through 2014

The Federal Reserve announced today that they will keep interest rates low until at least late 2014 in an effort to help jump-start the sluggish economy by making it less expensive to borrow money across all segments of the economy. Read more

30-Year Fixed Mortgage Rate Hits All-Time Low

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.73 percent, down from 3.81 percent at this same time last week. Read more

Mortgage rates hit record low: 30-year fixed nears 4%

NEW YORK (CNNMoney) — Mortgage rates hit yet another record low this week amid ongoing economic concerns both at home and in Europe.

The average rate for a 30-year, fixed-rate loan fell to 4.09% this week, its lowest level in 60 years, according to mortgage giant Freddie Mac. Last week, the 30-year fixed averaged 4.12%. The average rate for a 15-year fixed mortgage — a popular option among those who wish to refinance — sunk to 3.30%, down from 3.33% last week, Freddie reported.

“Continued investor concerns over the state of the European debt markets kept U.S. Treasury bond yields low and allowed mortgage rates to ease once more this week,” said Frank Nothaft, vice president and chief economist, Freddie Mac in a statement.

The low rates have done little to boost the beleaguered housing market, however. While mortgage applications increased 6.3% last week, only 23% of applicants intended to use the loan to buy a home, according to a weekly mortgage survey from the Mortgage Bankers Association. The remainder of applicants were homeowners seeking to refinance existing, higher-rate mortgages.

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