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 rate at record low 3.89%

30-year mortgage rate at record low 3.89% (by Ruth Mantell)

WASHINGTON (MarketWatch) -- Mortgage rates have hit record lows, Freddie Mac said Thursday in its weekly report on these rates, following "mixed" labor-market indicators. The average rate on the 30-year fixed-rate mortgage fell to a record low of 3.89% in the week ended Jan. 12, compared with 3.91% in the prior week, according to Freddie, a buyer of residential mortgages. These data go back to 1971. A year ago, the 30-year rate was at 4.71%. "Although the economy added 1.6 million jobs in 2011, which was the most since 2006, the unemployment rate remained historically elevated," said Frank Nothaft, Freddie's chief economist, in a statement. To obtain the latest rate, payment of an average 0.7 point was required. A point is 1% of the mortgage amount, charged in prepaid interest. The 15-year fixed-rate mortgage fell to a record low of 3.16% in the latest week from 3.23% in the prior week. These data go back to 1991. Meanwhile, the average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage declined to a record low of 2.82% from 2.86%. These data go back to 2005. The 1-year Treasury-indexed ARM fell to a record low of 2.76% from 2.80%. These data go back to 1984.