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Mortgage rates dip slightly as Americans rush to refinance their home loans

Mortgage rates are flirting with another record low — and that means the boom in refinancing has not yet finished.



a car parked in front of a house: Americans are rushing to refinance, but homeowners shouldn’t necessarily expect mortgage rates to continue hitting record lows.


© Getty Images
Americans are rushing to refinance, but homeowners shouldn’t necessarily expect mortgage rates to continue hitting record lows.

The 30-year fixed-rate mortgage averaged 2.87% for the week ending Oct. 8, down one basis point from the week prior, Freddie Mac (FMCC)reported Thursday. A few weeks ago, the average rate for the 30-year loan fell to an all-time low of 2.86%.

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The 15-year fixed-rate mortgage rose by a basis point to an average of 2.37%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage dropped one basis point to 2.89% on average.

Mortgage rates usually roughly follow the direction of the 10-year Treasury note’s yield (BX:TMUBMUSD10Y) which trended upward this week. That’s not what happened this week, though.

“Typically, Treasury yields and mortgage rates have a close relationship, with

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Posted in home

U.K. Home-Price Growth at Four-Year High in Rush for Green Space

(Bloomberg) — Surging demand pushed U.K. house-price growth to the highest level in four years as city dwellers sought homes with bigger backyards.



a tall building in a city: A terraced row of residential housing sit in the Muswell Hill district, in view of the Canary Wharf financial, business and shopping district of London, U.K., on Tuesday, July 31, 2018. U.K. house prices bucked their recent trend with a modest pick up in growth in July, according to Nationwide Building Society.


© Bloomberg
A terraced row of residential housing sit in the Muswell Hill district, in view of the Canary Wharf financial, business and shopping district of London, U.K., on Tuesday, July 31, 2018. U.K. house prices bucked their recent trend with a modest pick up in growth in July, according to Nationwide Building Society.

Inquiries, sales and new listings all rose in August, according to the Royal Institution of Chartered Surveyors. Its measure of price gains was the highest since 2016, and property agents said they expect homes with outdoor space will become even more desirable as more people work remotely.

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The report comes amid concerns that the bounceback from the coronavirus is under threat from renewed outbreaks, the end of government subsidies and a

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