Blog
November 23rd, 2009

Mortgage Rates Fell to 2009 Low

by

 

Mortgage rates are on a roll. Rates fell last week to their lowest levels seen all year. According to the latest issue of HSH’s Market Trends Newsletter, “Mortgage Rates Downshift, Match Year’s Low,” the conforming 30-year fixed rate dipped below the 5% mark.

“Although one might have thought that everyone knew that a sluggish economic recovery is on tap, a reiteration of this by Federal Reserve Chairman Ben Bernanke [last] Monday seemed to push some investors out of equities and back into bonds, driving yields and mortgage rates downward.”

HSH.com’s overall average for mortgage rates, as measured by our Fixed-Rate Mortgage Indicator FRMI, declined by seven basis points (0.07%) [last] week, with the average price of all loans — conforming, jumbo and agency jumbo combined — slipping to 5.28%. The overall average for 5/1 Hybrid ARMs eased by three basis points, finishing [last] week at 4.58%. Conforming 30-year fixed slipped below the 5% mark, the 5th time they’ve done so this year, and have now matched 2009 lows. This is occurring despite an improving economy, which usually brings somewhat firmer interest rates.”

“Slower holiday demand for mortgage credit could see interest rates move a little lower in the days and weeks just ahead, but even slight additional dips may bring in enough business to lenders as to keep rates fairly steady. As we’ve noted in the past, there no reason to run a sale when the store’s already full of customers.”

“[This] week’s a holiday-shortened one. Mortgage rates probably don’t do much of anything in the three-day period, and bond markets and HSH are closed on both Thursday and Friday.”

“Looking at the longer term? You’ll need to read our latest two-month forecast.”

Click here to continue reading “Mortgage Rates Downshift, Match Year’s Low.” HSH’s free weekly Market Trends Newsletter, an in-depth analysis of various financial markets of the week prior, is published every Monday. Email subscribers receive it in your inbox by Friday night, so sign up today! Also, be sure to check in with our Market Trends blog for all news relating to any weekly shift in mortgage rates.

Share and Enjoy:
  • email
  • Print
  • RSS
  • Add to favorites
  • Yahoo! Bookmarks
  • Facebook
  • Twitter
  • Technorati
  • Digg
  • del.icio.us
  • Google Bookmarks
  • StumbleUpon
  • Yahoo! Buzz
  • Mixx
  • BlinkList
  • Live
  • Reddit

One Response to “Mortgage Rates Fell to 2009 Low”

  1. kevinrowley (Kevin Rowley) Says: November 23rd, 2009 at 5:53 pm

    RT @HSHassociates: Mortgage Rates Fell to 2009 Low http://bit.ly/4vGTm6 Conforming 30-yr fixed rate drops below 5% once again

Leave a Comment

Receive Updates via Email

Delivered by FeedBurner

About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

Connect With Us

  • rss feed icon
  • facebook icon
  • twitter icon

Compare Lowest Mortgage Rates

$