Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

30-year mortgage at record low 4.01%

30-year mortgage at record low 4.01% (by Ruth Mantell)

WASHINGTON (MarketWatch) -- The average rate on the 30-year fixed-rate mortgage fell to a record low of 4.01% in the week ending Sept. 29 - these data go back to 1971 - from 4.09% in the prior week, Freddie Mac reported Thursday. "Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve's announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities," said Frank Nothaft, Freddie Mac's chief economist, in a statement. By the five regions in Freddie Mac's data, the rate hit 3.95% in the West, 4.01% in the Northeast, 4.02% in the North Central area, 4.08% in the Southwest, and 4.09% in the Southeast. A year ago, the overall 30-year rate was at 4.32%, according to the buyer of residential mortgages. The average rate on the 15-year fixed-rate mortgage also hit a record low in the most recent week, ticking down to 3.28% from 3.29% in the prior week. These data go back to 1991. The 5-year Treasury-indexed hybrid adjustable-rate mortgage remained at 3.02%, while the 1-year Treasury-indexed ARM ticked higher to 2.83% from 2.82%.