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

Washington
Average October mortgage rate is 4.17 FHFA reports
WASHINGTON (11/23/11)--The average combined rate of both fixed- and adjustable-rate mortgages stood at 4.17% in October, a drop from the 4.36% average reported last month, the Federal Housing Finance Agency (FHFA) reported on Tuesday.

The agency said that initial fees and charges pushed this average to an effective rate of 4.29% for October. That rate represents a 20 basis point drop from September's total of 4.49%.
Click to view larger image Click for larger view


The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders was 4.19% last month, a 0.19% drop from September's total, and conventional, 30-year, fixed-rate mortgage loans of $417,000 or less averaged an interest rate of 4.36% in October, a 20 bp drop from the previous month's total, the FHFA said.

October's average loan-to-price ratio 78.4%, and the average loan amount was $218,500 during that month. Both of these numbers were consistent with the previous month's results.

The FHFA also reported the following:

  • Initial fees and charges accounted for 0.83% of loan balances in October; and
  • 28% of purchase-money mortgage loans originated in October were "no-point" mortgages.
For the full FHFA release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
.@Bankrate breaks down 5 top fee-fighting #creditunions http://t.co/MNyj3uWeVs
15 minutes ago
#creditunions celebrate #EarthDay2015 by being green aware with e-statements, hosting shred events, planting trees
15 hours ago
From @WSJ: 33% of companies say it took them more than 1 yr to discover a data breach. http://t.co/a0MxV68X6t http://t.co/lkglx6WvKs
19 hours ago
.@CAMCouncil taps into @MICreditUnions' career, tech training resources http://t.co/sotnfCUgIo
20 hours ago
#Inflation ticks up in March, still relatively flat #NewsNow #Market http://t.co/PyAvwdkJ4M
20 hours ago