Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
FHFA: National Average Mortgage Rate Is 354%
WASHINGTON (4/26/13)--The National Average Contract Mortgage Rate for previously occupied home loans closed in March was 3.54%, the Federal Housing Finance Agency reported Thursday.

The average interest rate on conventional, 30-year, fixed-rate mortgage loans of $417,000 or less increased 12 basis points to 3.74 in March. Those rates are calculated from the FHFA's Monthly Interest Rate Survey of purchase-money mortgages.

The results reflect loans closed during the March 25-31 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. So, the reported rates depict market conditions prevailing in mid-to-late February, FHFA said.

The contract rate on the composite of all mortgage loans (fixed and adjustable rate) was 3.53%, up 11 basis points from 3.42% in February. The effective interest rate--which reflects the amortization of initial fees and charges--was 3.65%, up 10 basis points from 3.55% in February.

The report contains no data on adjustable-rate mortgages due to insufficient sample size, FHFA said.

For more information, use the link.
Other Resources

FHFA Mortgage Report
RSS print
News Now LiveWire
.@CFPB today finalized changes 2 remittance rule, proposed in April. See rule here: http://t.co/tPs6Mlimni
1 Day ago
State OKs Floridacentral #creditunion's bank branch purchase #NewsNow http://t.co/37uXorWsmV
1 Day ago
Today is deadline to order your T-shirt for #MiracleJeansDay @CU4Kids @CMNHospitals http://t.co/UXIqW3cFN6
1 Day ago
#Creditunion #100MM on display with @NWCUA's Minickiello, Wash. Rep. Sharon Tomiko Santos at @NCSLorg @CUNAadvocacy http://t.co/xVwnS39uEM
1 Day ago
Fraudsters hit @jpmorgan with smash and grab #phishing campaign http://t.co/VEkAvctYLJ
1 Day ago