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Long-Term Mortgage Rates Up A Touch

WASHINGTON, Nov. 17 (UPI) — Long-term mortgage rates were slightly higher in the week ending Thursday, the U.S. Federal Home Loan Mortgage Corp. said.

Freddie Mac said the average interest rates for 30-year, fixed-rate loans rose from 3.99 percent to 4 percent with an average of 0.7 points for the week.

A year earlier during the same week of the year, interest rates for long-term loans averaged 4.39 percent.

For 15-year loans, the rate rose from 3.3 percent during the week to 3.31 percent. Points for 15-year contracts averaged 0.7 point in the week.

A year earlier, 15-year, fixed-rate mortgages averaged 3.76 percent.

Although rates were little changed, both consumer confidence and home builder confidence indexes rose in the month, both supportive of higher interest rates, said Frank Nothaft, Freddie Mac vice president and chief economist.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

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