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Thursday, November 12, 2009
Freddie Mac: 30-year Fixed-rate Mortgage Falls
By Sue Chang
MarketWatch Pulse
SAN FRANCISCO -- Freddie Mac said Thursday the 30-year fixed-rate mortgage average fell to 4.91% from the previous week with an average 0.7 point for the week ending Nov. 12. In the previous period, the average was 4.98%, and the year-ago average was 6.14%. "Mortgage rates eased further over the week, helping to promote an affordable home-purchase market and stimulate refinance. This comes at a time when house price declines are moderating and consumer demand for prime mortgages at commercial banks has picked up," said Frank Nothaft, Freddie Mac vice president and chief economist.
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