Update1: Mortgage Rates Drop to 54-Year Lows

by Tim Manni

Update1: At the close of business today, the 30-year Conforming fixed rate rang in at 4.69%.

Original post: At the close of business yesterday, the 30-year Conforming fixed rate rang in at 4.75%, according to HSH.com. That’s a 54-year low for mortgage rates (from what we can reckon), the lowest we’ve ever recorded.

However, mortgage-rate records are very spotty when you go back five-plus decades, and comparing rates from today with rates from 1956 isn’t exactly fair since the mortgage market was quite different back then.

If you have data available from even earlier, send it along, we’d love to see it!

7 Responses to “Update1: Mortgage Rates Drop to 54-Year Lows”

Tweets that mention Update1: Mortgage Rates Drop to 54-Year Lows | HSH Financial News Blog -- Topsy.com Says: June 25th, 2010 at 9:43 am

[...] This post was mentioned on Twitter by Baltimore HUD Homes, Nick Pakulla. Nick Pakulla said: RT @HSHassociates: Mortgage Rates Drop to 54-Year Lows http://bit.ly/9ilSv9 [...]
Mortgage Rates And Loan Demand | My Financial Healthcheck Says: June 27th, 2010 at 10:38 am

[...] reached their lowest levels in more than 50 years this week. On Thursday, rates tracked by HSH.com hit 4.69%, down from 4.75% on Wednesday and an average 4.85% last [...]
Instant Investor Says: June 28th, 2010 at 3:43 pm

[...] reached their lowest levels in more than 50 years this week. On Thursday, rates tracked by HSH.com hit 4.69%, down from 4.75% on Wednesday and an average 4.85% last [...]
Mortgage Rates Set New Record at 4.69% Says: July 2nd, 2010 at 11:14 am

[...] reached their lowest levels in more than 50 years this week. On Thursday, rates tracked by HSH.com hit 4.69%, down from 4.75% on Wednesday and an average 4.85% last week.Freddie Mac also said on [...]
MI refi Says: July 5th, 2010 at 12:14 am

It’s interesting that despite such low levels.mortgage application and issuance remains low.
This is likely due to more stringent lending standards which are going to counteract some of the benefits of the low rates. there’s really nothing that can be done about it as standards had clearly been far too lax for some time and needed tightening, but it is going to make recovery slower.
It will take some time to work off the excesses of the last decade.Thanks for sharing.
Tim Manni Says: July 6th, 2010 at 11:52 am

MI refi,

Thanks for your comment. Part of the problem is the majority of borrowers looking to refi have likely already taken advantage of these low rates when they hit previous historical bottoms.

Thanks,
Tim
Interest Rate at Record Lows Again Says: July 12th, 2010 at 11:37 am

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