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Mortgage Refinancing Applications Jump; Rates Fall: MBA

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Mortgage War Gives Borrowers an Edge

Existing and would-be home owners are being encouraged to “shop around” as banks slash mortgage rates. ASB last night became the latest bank to reduce its 12-month fixed home loan rate, down from 5.7 per cent to match Westpac and ANZ-National’s rate of 5.25 per cent. Kiwibank set off the latest round of cuts at the end of April, setting a one-year fixed special rate of 4.99 per cent.

Bankrate: Mortgage Rates Tumble to Another Record Low

NEW YORK, May 3, 2012 /PRNewswire/ –  Mortgage rates fell for a fourth consecutive week and the fifth time in the past six weeks, with the average rate on the benchmark 30-year fixed mortgage rate dropping to 4.05 percent, according to Bankrate.com’s weekly national survey.

New Low for Mortgage Rates: 3.83%

Mortgage rates continue to fall to record-low territory, with the average for a 30-year, fixed-rate loan dropping to 3.83 percent this week, according to Freddie Mac . The 30-year rate set a record last week, dropping to 3.84 percent.

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