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Mortgage Rate Update Ending 11/18/10

November 18, 2010

Interest RatesBankrate.com  conducts a weekly national survey on the interest rates for the five most common consumer banking products.  Here’s the outcome for 11/18/2010:

  • 30 Year Fixed Rate: 4.62 percent
  • 15 Year Fixed Rate: 4.02 percent
  • 5/1 ARM (Adjustable): 3.71 percent 

According to the Mortgage Bankers Association:

The financial markets globally have been impacted by a highly negative response globally to the Federal Reserve’s “QE2″ program.  This program is designed to pump money into the American banking system. Earlier this week, global markets also were rocked by a financial crisis in Ireland.

Although the U.S. housing market remains in a slump, the National Association of Realtors said this week that half of the metro areas it tracks showed modest home price increases in the third quarter. However, the national median price for existing single-family homes was little changed, dropping to $177,900 in the third quarter compared to $178,200 in the third quarter of 2009.

Written by Adam Golden · Filed Under Featured, Mortgage News 

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