Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
30-year mortgages average 4.61 in Dec. 2010
WASHINGTON (1/31/11)--Conventional 30-year mortgages averaged an interest rate of 4.61% during December, a 23-basis point increase over November’s average, the Federal Home Finance Agency (FHFA) reported last week. Overall, the combined average contract mortgage rate for fixed and adjustable mortgages was 4.52% during that same time period. The effective interest rate, which reflects the amortization of initial fees and charges, was 4.63%, according to the FHFA. The FHFA reported that the average loan amount for loans that closed in December was $209,500, a drop from the previous month’s average of $214,800. Initial fees and charges represented 0.8% of the balance of those loans, and the average term of loans originated in December was 28.4 years. The average loan-to-price ratio was 75.6% in December, an increase from the 74.8% loan-to-price ratio recorded at the end of November. For the full FHFA release, use the resource link.
Other Resources

RSS print
News Now LiveWire
30+ states allow #creditunions to act as public depositories, another Northeastern state may soon follow suit #CUNA http://t.co/EV1dB3phTH
1 hours ago
New #databreach at Michaels & associated business Aaron Brothers may have impacted 2.6m cardholders http://t.co/jYeFs8okao
1 hours ago
#creditunion-community ties stressed during public funds depository testimony by @MassLeague See #NewsNow http://t.co/K7OrwuvhxM
2 hours ago
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
11 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
19 hours ago