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Akron home prices rank best in college-town poll
Retired Green officer finally gets Bronze Star
Indians and Reds to share ballpark
Lawyer asks investigators not to question Hasan
Stocks jump after G-20 pledge to aid economies
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Unusual sports bar to be sold at auction
Motorcyclist killed, wife injured in Stark County crash
Family found dead in Ohio home
Man says he was punched, robbed by 3 people in parking lot
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Bank helps more save their homes
Circle K on Brown Street robbed
Woman says clinic refused to help her get pregnant because she's not married
Brown still testing Cavs' lineup
Humane Society telethon short of goal
'Docs Who Rock' delivers excitement
Letters to the editor - Nov. 9
Blogs:
Pets:
Cats are trainable — and that's not a punchline
The Heldenfiles:
Monday Notebook
Patrick McManamon:
Time for Kokinis, Browns to agree and part ways
Akron Zips:
Zips tip off tomorrow
Tribe Matters:
Indians announce spring dates
Cleveland Browns:
Mangini doesn't name a quarterback
Kent State Sports:
KSU Notes – November 9
Cleveland Cavaliers:
Shaq: It’s All About Winning Championships
Buckeye Blogging:
Weekly ‘B’ Deck Report – New Mexico St.
Varsity Letters:
Walsh Jesuit’s Caponi commits to Duquesne
All Da King's Men:
If It Looks Like Islamic Terrorism…
Blog of Mass Destruction:
Dems Message To Women: Don't Enjoy The Sex
Akron Law Café:
Abortion Analogies
See Jane Style:
Muffle Your Muffler
Car Chase:
Clock Tender- Extending the Life of Collector Car Clocks
Let's Talk Real Estate:
Rumors: Akron Starbucks Closing
Ohio Travels with Betty:
Jack is looking for a trip to Southern Ohio the week of November 16.
Sound Check:
The Black Keys to perform benefit concert at Musica on November 27
HRLite House:
Personal Rant – Why People Do Not Live in Northeast Ohio
Akron Gamer:
New 'Call of Duty' could set entertainment record
By Martin Crutsinger
Associated Press
POSTED: 01:36 p.m. EDT, Oct 09, 2008
WASHINGTON: Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks.
Freddie Mac, the mortgage company, reported today that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6.10 percent last week. It marked the first decline since rates fell on Sept. 18 to 5.78 percent, a seven-month low.
Financial markets have been turbulent in recent weeks as investors have flocked to the safety of Treasury securities, sending those yields down sharply while rates on other types of corporate bonds have been pushed higher by growing concerns about whether the bonds will be repaid.
Those crosscurrents have been reflected in mortgage rates, which also have been on a roller coaster, hitting a high for the year of 6.63 percent in late July and then dropping below 6 percent in mid-September.
''Longer-term mortgage rates fell for the first time in three weeks, roughly following bond market yields,'' said Frank Nothaft, chief economist for Freddie Mac.
According to the Freddie Mac survey, rates on all types of mortgages were lower this week.
Rates on 15-year fixed-rate mortgages, which are popular with people who are refinancing, dropped to 5.63 percent, compared to 5.78 percent last week.
Rates on five-year adjustable-rate mortgages fell to 5.90 percent from 6.00 percent last week. Rates on one-year adjustable-rate mortgages edged down slightly to 5.15 percent, compared to 5.16 percent last week.
The mortgage rates do not include add-on fees known as points. The nationwide fee for 30-year, 15-year, five-year and one-year mortgages all averaged 0.6 point.
A year ago, the nationwide average rate on 30-year mortgages stood at 6.40 percent, 15-year mortgage rates averaged 6.06 percent, five-year adjustable-rate mortgages were at 6.12 percent, and one-year adjustable-rate mortgages stood at 5.73 percent.
WASHINGTON: Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks.
Freddie Mac, the mortgage company, reported today that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6.10 percent last week. It marked the first decline since rates fell on Sept. 18 to 5.78 percent, a seven-month low.
Financial markets have been turbulent in recent weeks as investors have flocked to the safety of Treasury securities, sending those yields down sharply while rates on other types of corporate bonds have been pushed higher by growing concerns about whether the bonds will be repaid.
Those crosscurrents have been reflected in mortgage rates, which also have been on a roller coaster, hitting a high for the year of 6.63 percent in late July and then dropping below 6 percent in mid-September.
''Longer-term mortgage rates fell for the first time in three weeks, roughly following bond market yields,'' said Frank Nothaft, chief economist for Freddie Mac.
According to the Freddie Mac survey, rates on all types of mortgages were lower this week.
Rates on 15-year fixed-rate mortgages, which are popular with people who are refinancing, dropped to 5.63 percent, compared to 5.78 percent last week.
Rates on five-year adjustable-rate mortgages fell to 5.90 percent from 6.00 percent last week. Rates on one-year adjustable-rate mortgages edged down slightly to 5.15 percent, compared to 5.16 percent last week.
The mortgage rates do not include add-on fees known as points. The nationwide fee for 30-year, 15-year, five-year and one-year mortgages all averaged 0.6 point.
A year ago, the nationwide average rate on 30-year mortgages stood at 6.40 percent, 15-year mortgage rates averaged 6.06 percent, five-year adjustable-rate mortgages were at 6.12 percent, and one-year adjustable-rate mortgages stood at 5.73 percent.
Comments
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Posted 03:56 PM, 10/09/2008
How can they still be offering ARM at all?
Further - all the govt has to do is convert all ARM to fixed rates and let the people keep paying what they have been. That way the banks still get paid and people keep their houses.
akron, oh
Posted 05:52 PM, 10/09/2008
No kidding Didnt unlimited unchecked credit with the arms get us into this mess????
My dad used to say when you find yourself in a hole quit digging.....
