U.S. refinance mortgage rates hit 2007 lows - 2007-03-01
Concerns about the strength of the U.S. economy helped nudge down the interest rate on the benchmark 30-year fixed-rate refinance mortgage to its lowest level this year, Freddie Mac's chief economist declared on Thursday. The 30-year mortgage averaged 6.14% for the week ending March 8, down from last week's 6.18% average, according to Freddie Mac's weekly survey. The mortgage averaged 6.37% a year ago.
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Mortgage lenders rally on refinancing data - 2007-03-01
Fremont General Corp. and NovaStar Financial Inc. led shares of mortgage lenders up for the second straight day Wednesday, helped by a report showing an increase in home-loan refinancing and greater prospects for takeovers. The Mortgage Bankers Association said loan applications climbed last week to the highest level in almost three months, paced by a 15 percent jump in refinancings.
Read the full story at Chicago Tribune