Financial Planning News, 30 Year Fixed Mortgage Rate Weekly From Freddie Mac

Written By: admin on February 26, 2009 No Comment

Thursday, February 26, 2009. Freddie Mac said the 30-year fixed mortgage rate average edged up from the previous week to 5.07% with an average 0.7 point for the week ending Feb. 26. In the previous period, the average was 5.04%, and the year-ago average was 6.24%.

“Mortgage rates were small changed this week amid mixed data reports of a slowing economy. Both the core producer price and consumer price indexes ticked up in January, higher than the market consensus, while consumer confidence in February fell to the lowest reading since records started in January 1967,” said Frank Nothaft, Freddie Mac chief economist, in a statement.

At the same time, lower house prices and affordable mortgage rates have yet to spur housing demand, he added.