U.S. Mortgage Purchases At 15-Year Low Despite Record Low Mortgage Rates

WASHINGTON — U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign the housing market is maintaining its recovery and helping to bolster the economy. The National Association of Realtors said Thursday that sales rose 0.4 percent in January compared with December to a seasonally adjusted annual rate of 4.92 million. That was the second-highest sales pace since November 2009, when a temporary home buyer tax credit had temporarily boosted sales.

WASHINGTON — U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign the housing market is maintaining its recovery and helping to bolster the economy. The National Association of Realtors said Thursday that sales rose 0.4 percent in January compared with December to a seasonally adjusted annual rate of 4.92 million. That was the second-highest sales pace since November 2009, when a temporary home buyer tax credit had temporarily boosted sales.

(WASHINGTON) — Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market’s steady recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed loan rose to 3.57 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971. The average rate on the 15-year fixed mortgage increased last week to 2.76 percent from 2.72 percent last week. The record low of 2.63 percent was also reached in November.

(WASHINGTON) — Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market’s steady recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed loan rose to 3.57 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971. The average rate on the 15-year fixed mortgage increased last week to 2.76 percent from 2.72 percent last week. The record low of 2.63 percent was also reached in November.

By Julie Y:Mortgage rates reached a new all-time low this week, as rates continued to decline in reaction to the Federal Reserve's mortgage-backed securities purchases.Freddie Mac's Primary Mortgage Market Survey showed a decrease of 9 basis points in the 30-year average fixed-rate mortgage for the week. The 30-year weekly FRM average fell to a new record low of 3.40 percent.

Michael David White submits:We have just in the last year had the largest annual fall in real estate prices, hit the highest number of delinquent mortgages measured, witnessed a record 918,000 homes taken in foreclosure, and 11.3 million home owners now own negative equity.

By Julie Y:Mortgage rates continued to remain at record low levels during the November 30 week. Freddie Mac's Weekly Primary Mortgage Market Survey reported an average 30-year fixed-rate increase of one basis point from last week's record low, to 3.32 percent. The 15-year fixed-rate mortgage average also increased a basis point to 2.64 percent, up from its record low last week of 2.63 percent.