Consumer News Publication Launches Amid Plunging Mortgage Rates

DALLAS, June 6, 2011 /PRNewswire/ -- Interest rates have fallen each week for nearly two months, stand at the lowest level this year and are hovering near record lows. The launch of a new consumer mortgage news publication will help current and prospective borrowers take advantage of these low rates while giving them an improved understanding of available options and the mortgage process.

MortgageDaily.com, a leading paid-subscription source of online news and data for the mortgage industry, has launched a free publication for current homeowners and consumers considering a home purchase.

Located at www.MortgageDaily.com/consumers/, the new online publication includes full wire-service stories written by journalists from many of the nation's biggest newspapers and articles authored by MortgageDaily's own reporters.

The formal launch comes as the 30-year fixed rate has fallen each of the past eight weeks, according to the U.S. Mortgage Market Index from Mortech Inc. and MortgageDaily.com. Last week's 30-year rate of 4.651% was the lowest this year.

A disappointing employment report helped bond yields fall Friday, likely leaving mortgage rates even lower in this week's upcoming reports.

Continued instability in the Mideast, concerns about European economies and a floundering economic recovery at home have the prospect of Treasury yields -- and corresponding mortgage rates -- hanging in historically low territory even longer.

The decline in rates, combined with increasingly low home prices in many parts of the country, is a boon for the ailing real estate market because of the rising number of renters who see homeownership as a more affordable option -- especially after factoring in tax benefits.

With lending requirements having become more stringent since the financial crisis, consumers who understand the real estate finance process can make better-informed decisions that lead to the most favorable mortgage terms.

Federal requirements are rapidly evolving on a daily basis for loan originators, mortgage bankers and servicers, and the new publication can help consumers better navigate this increasingly complex market.

The business-to-consumer news venture will be supported by advertising.

Information about an RSS feed for the consumer site can be found at http://www.mortgagedaily.com/Consumers/RssFeed.asp.

About MortgageDaily.com

Founded in 1998, MortgageDaily.com provides online mortgage news, mortgage statistics and analysis for the mortgage industry and has been cited by many national news publications.

CONTACT:
Holly Himelright
[email protected]
3811-700 Turtle Creek Blvd.
Dallas, TX 75219
214.521.1300

SOURCE MortgageDaily.com