New Record Low
May 31st, 2012
Benzinga tells us the mortgage rate has found another hole that it has fallen through to a record low, as the 30-yr. fixed rate has hit 3.78% and the 15-yr. Fixed rate plunged to 3.08%, according to Bankrate. Still, the reticence of would-be buyers due to job insecurity, tight credit, and unstable home values weighs stronger than the low interest draw, and it has become “politically correct” to now rent. As such, the number of mortgage applications dropped the week ending May 25 by 1.3%.
(Image credit: Marksman)
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Eric Miller - Industry in Focus Reporter | Matthew Silver - Reporter at Large
Joe Geller - IT and WebTech | Soheyla Kovach - Support Services
L.A. 'Tony' Kovach - Publisher, Editor and Marketing Director. To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: Business, Economy, Finance, News Item fixed rate, home values, job insecurity, mortgage applications, Mortgage rate, reticence, tight credit
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