(Voice of Bankrate.com reporter, Kristin Arnold talking)
Mortgage rates continue their eight week slide, hitting new lows for 2011. The average rate on a 30-year fixed-rate mortgage inched downward to 4.65 percent ... dropping four basis points. The popular 15-year fixed-rate mortgage also fell 9 basis points to 3.79 percent.
Another fixed-rate product, the 30-year jumbo mortgage, averaged 5.19 percent, actually going up 3 basis points.
With continued reports on a barely recovering job market and ongoing weakness in the housing market ... even with record low mortgages rates -- people just don't feel confident enough to buy or simply can't.
Federal Reserve Chairman Ben Bernanke said in a speech on Tuesday that the economic recovery appears to be continuing at a moderate pace, but "at a rate that is both uneven across sectors and frustratingly slow from a perspective of millions of unemployed and underemployed workers."
Of course, if the time and price is right for you -- your smartest move is to shop for the best mortgages rates by visiting Bankrate.com. I'm Kristin Arnold.
Mortgage rates rebounded this week.
Mortgage rates reversed course this week.
Mortgage rates jumped this week.
Mortgage rates are up this week.
Mortgage rates mostly stayed put this week.
Follow this 6-month homeowner countdown so you are ready come closing day.
Shopping for insurance? Follow these tips from top experts in the insurance field.
Think your holiday gift list might break your budget? Consider one of these items on sale this month.
Before you take off, land the best deal on your airfare.
Follow these expert tips to save on gift wrapping without breaking the bank.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
A little research could save you BIG on interest.