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 falls to record-low 3.87%

30-year mortgage rate falls to record-low 3.87% (by Ruth Mantell)

WASHINGTON (MarketWatch) -- With economic growth below expectations, mortgage rates hit record lows in the week ending Feb. 2, as the average rate on the 30-year fixed-rate mortgage fell to 3.87% from 3.98% in the prior week, Freddie Mac said Thursday in its weekly report on mortgage rates. The 30-year mortgage data go back to 1971. "Most mortgage rates eased to all-time record lows this week as fourth quarter growth in the economy fell short of market projections," said Frank Nothaft, Freddie Mac's chief economist. A year ago, the 30-year rate was at 4.81%. To obtain the latest rate, payment of an average 0.8 point was required, according to Freddie, a buyer of residential mortgages. A point is 1% of the mortgage amount, charged in prepaid interest. The 15-year fixed-rate mortgage also hit a record low, declining to 3.14% in the latest week from 3.24% in the prior week. The 15-year-mortgage data go back to 1991. Meanwhile, the average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage hit a record low of 2.80%, down from 2.85%. The five-year-mortgage data go back to 2005. The 1-year Treasury-indexed ARM remained near its record low, rising to 2.76% in the latest week from 2.74% in the prior week.