Last week brought several indicators of a strengthening economy. New home sales, private and federal employment and mortgage rates rose.
After record low interest rates for 7 months, mortgage rates are rising quickly. Mortgage rates rose for the fourth straight week this week, hitting 4.61 percent. Could this surge slow refinancings and further hamper the housing market? Absolutely. Today, Freddie Mac says the average rate on a 30-year fixed loan increased sharply from last week’s rate.Continue reading “Maine Mortgage Market Update 12.09.2010”
WASHINGTON (AP) — Government-controlled mortgage buyer Freddie Mac is asking for $1.8 billion in additional federal aid after posting a larger loss in the second quarter. Freddie Mac said Monday it lost $6 billion, or $1.85 per share, in the April-to-June period. The company is required to pay a 10 percent annual dividend to theContinue reading “Freddie Mac requests $1.8B in aid after 2Q loss”