Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Market issues drop average mortgage rates
WASHINGTON (10/31/11)--Average rates on 30- and 15-year fixed rate mortgages fell last week amid concerns over the European debt market, Freddie Mac reported.

Thirty-year mortgages averaged 4% during the week ended Nov. 3. The average rate stood at 4.1% during the previous week, and 4.24% this time last year. Fifteen-year mortgages fell to 3.31%, ending a two-week stretch during which they held at 3.38%. Those types of mortgages averaged 3.63% this time last year.

Freddie Mac Chief Economist Frank Nothaft said the U.S. economy continued a gradual recovery, but added that market concerns over the European debt market drew investors to U.S. Treasury securities, lowering bond yields and mortgage rates.

Five-year and one-year Treasury indexed hybrid adjustable-rate mortgages (ARMs) also fell last week, averaging 2.96% and 2.88%, respectively. Five-year ARMs average 3.08% last week, and one-year ARMs averaged 2.9%.

For the full release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago