According to Freddie Mac’s Primary Market Survey, 30-year fixed-rate mortgages hit a new record low last week, dipping down to 4.56%.  While mortgage rates do continue to be one of the economic bright spots this summer, with underwriting criteria tight and home values depressed, there are few that can take advantage of the situation.  Economic [...]

According to Freddie Mac, 30-year mortgage rates hit a record low of 4.57% last week.  In more normal times, this would launch a flurry of refinance activity, but with current economic conditions, and tight underwriting standards, refinance activity ticked up only slightly.  While some are beginning to worry about a double dip recession, the US [...]

Mortgage rates moved downward again last week as the economic recovery showed further signs of slowing.  The respected ISM Manufacturing Index dropped last week.  While the index does remain above 50, which indicates that manufacturing is growing, the dip is another sign that the manufacturing-led recovery is losing some of its momentum.  Also helping push [...]