Ads
related to: 2006 mortgage rates today
Search results
Results from the WOW.Com Content Network
1970s mortgage rate trends The average 30-year fixed-rate mortgage started the decade at about 7.5 percent in 1971 (the earliest year for which data is available), according to Freddie Mac.
Nearly one in 10 mortgage borrowers in 2005 and 2006 took out these "option ARM" loans, [2] and an estimated one-third of ARMs originated between 2004 and 2006 had "teaser" rates below 4%. After the initial period, monthly payments might double [ 93 ] or even triple.
As the Federal Reserve Bank applied its monetary contraction policy in 2005, many homeowners were stunned when their adjustable-rate mortgages began to reset to much higher rates in mid-2007 and their monthly payments jumped far above their ability to meet the monthly mortgage payments. Some homeowners began defaulting on their mortgages in mid ...
September 18: The Fed lowers interest rates by half a percent (50 basis points) to 4.75% in an attempt to limit damage to the economy from the housing and credit crises. [73] September 28: Television finance personality Jim Cramer warns Americans on The Today Show, "don't you dare buy a home—you'll lose money," causing a furor among Realtors ...
A note regarding mortgage rate data available for the 1990s: FRED data on 15-year fixed-rate mortgages starts in August 1991, so 1990 and part of 1991 are not factored into this analysis.
From 2001 to 2006 interest rates were dramatically lowered (due to the Dot-com crash) but then increased from 2006 to 2007. In the United States, mortgage rates are typically set in relation to 10-year treasury bond yields, which, in turn, are affected by Federal Funds rates.
Ads
related to: 2006 mortgage rates today