Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
7 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
3 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
3 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
5 hours ago