Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Average Mortgage Rate Edges Up To 4.16%
WASHINGTON (11/12/13)--Freddie Mac reported Thursday that the average rate on 30-year fixed-rate mortgages rose to 4.16% for the week ended Nov. 1.
 
The increase was from the previous week rate of 4.10%, the lowest in four months.  For 15-year, fixed-rate mortgages, the average rate rose to 3.27% from 3.20%.  The average doesn't include extra fees, or points, that borrowers pay to get the lowest rates. One point equals 1% of the loan.
 
The average fee for a 30-year, fixed mortgage increased to 0.8 point from 0.7 point, while the fee for a 15-year mortgage stayed steady at 0.7 point.
 
Associated Press reported that rates have fallen since September, when the Federal Open Market Committee, the Federal Reserve's monetary policymaking group, went against expectations and decided not to taper off its quantitative easing policy of buying $85 billion each month in bonds (USA TODAY Nov. 7).  The QE3 policy is intended to keep the long-term rates lower.


RSS print
News Now LiveWire
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
2 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
4 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
5 hours ago
@TheNCUA open meeting is slated to start at 10 a.m. ET. Should be a quick one. #NewsNow http://t.co/rfYjnat7eI
5 hours ago
Mass. CUs in unanimous vote joined RI and NH CUs in approving merger of the 3 state leagues 2 form the Cooperative Credit Union Association.
5 hours ago