Learn Something New Every Day …

This, in a USA Today story about the 30-year mortgage rate hitting a new record low, caught my eye (emphasis mine):

Mortgage buyer Freddie Mac says the average rate on 30-year loans fell to 3.56%. That’s down from 3.62% last week and the lowest since long-term mortgages began in the 1950s.

My immediate . . . → Read More: Learn Something New Every Day …

First 2011 Business Headlines Mostly Merry

Facebook, the popular social networking site, has raised $500 million from Goldman Sachs and a Russian investor in a deal that values the company at $50 billion.

China’s manufacturing activity eased slightly in December, although it remained in expansion mode, according to a survey of the country’s purchasing managers.

In response, Asian stock markets . . . → Read More: First 2011 Business Headlines Mostly Merry

Rates Continue Down; Loan Applications Up

For those folks looking to refinance or purchase, the news on Wednesday continues to be nothing but positive.

The Mortgage Bankers Association (MBA) reported that their refinancing index jumped 8.6% in the July 16 week, making for a nearly 30% gain over the past four weeks. The average 30-year mortgage fell 10 basis points . . . → Read More: Rates Continue Down; Loan Applications Up