Why is Freddie Mac reporting the lowest mortgage rates since 1971?

Deal Score0

Didn’t they learn anything from the 2008 meltdown?

http://news.yahoo.com/s/ap/20100624/ap_on_bi_ge/us_mortgage_rates
Mortgage rates sink to lowest level on record
“The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.”
Hey, Bonnie. What’s up?

5 Comments
  1. Reply
    Katerina
    February 3, 2011 at 5:48 am

    They do not care Obama gave them our bankbook ….spend all you wish…

  2. Reply
    Common Sense in Exile
    February 3, 2011 at 6:23 am

    Because of uncertaintly with the world debt crisis and the stock market, money is flooding to safe-harbor Treasury Notes, which mortgage rates are linked to.

  3. Reply
    JimSock
    February 3, 2011 at 7:04 am

    Because Bernake is keeping the index rates and the short term rates artificially low.

    Once those rates return to normal, the mortgage rates will go up as well.

    Here’s another little tid-bit. Inflation will go up too. Right now, inflation is in a single digit of 2.

    Yet, the misery index is at 11.72 up from 7.42 under Bush.

    Misery Index is Unemployment + Inflation.

    The number is being driven by Unemployment almost exclusively.

    If Bernanke raises his rates, the sure inflation spike will cause the Zer0bama administration to implode.

    BTW, New home sales are at their lowest levels since 1962.

    Misery Index (11.72) = Unemployment rate (9.7) + Inflation rate (2.02)

  4. Reply
    Paul Grass®™
    February 3, 2011 at 7:50 am

    Because its not like its their money, they are following the orders of the regime

  5. Reply
    wtfinator
    May 11, 2011 at 8:48 am

    Freddie and Fannie don’t determine the interest rates – the banks do. Freddie Mac just surveys all the banks and reports on the averages by region.

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