Dallas Mortgage Refinance: Mortgage refinance rates fall to fresh lows!

Dallas Mortgage Refinance: Mortgage refinance rates fall to fresh lows!

http://online.wsj.com/article/BT-CO-20101007-709130.html

Average mortgage rates continued their fall in the past week, with the average rates on 30-year fixed and two other loans setting a record low, Freddie Mac (FMCC) said Thursday. Rates have slumped for months because Treasurys yields have slid due to economic uncertainty. They resumed their retreat after increasing for a few weeks beginning at the end of August. Mortgage rates generally track the yields, which move inversely to Treasury prices.

Data suggesting inflation is “running at a tepid pace at best” have allowed “mortgage rates to ease to new or near record lows this week,” said Freddie Mac Chief Economist Frank Nothaft. The 30-year fixed-rate mortgage averaged 4.27% for the week ended Thursday, down from the prior week’s 4.32% and 4.87% a year ago. Freddie has been tracking such rates since 1971.

The 15-year fixed mortgage averaged 3.72%, down from 3.75% the previous week and 4.33% in the like 2009 period. The latest week’s figure was the lowest since Freddie started tracking such loans in 1991.

Take advantage of the new record low mortgage rates! Whether you’re looking for mortgage refinancing, a new home mortgage, or a home equity loan, we can help! We’re a local Dallas lender that can offer you the best mortgage rates with the lowest closing costs!

Dallas: 972-325-2120      Austin:  512-996-8194      Houston:  713-589-2244

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