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Summary Box: Mortgage rates strike record lows

NEW LOWS: Fixed debt rates fell this week to a lowest levels in 6 decades. The normal rate for a 30-year loan strike 4.12 percent; a 15-year loan fell to 3.33 percent.

CAN’T CAPITALIZE: Most Americans can’t take advantage of a low rates. Half of would-be buyers don’t have adequate for a down remuneration and shrunken home values have erased most of a equity people need to refinance.

SALES WEAK: The low rates have finished small to vitalise sales of formerly assigned homes, that are on gait for their weakest year given 1997.

Source: Article Source


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