Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

U.S. Mortgage Rates Slide In Week

WASHINGTON (UPI) — Average U.S. mortgage rates declined in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.

In the week ending Oct. 3, average interest rates on 30-year fixed rate loans eased back to 4.22 percent with 0.7 point, down from the previous week’s 4.32 percent, Freddie Mac said.

A year ago at this time, rates for 30-year fixed-rate loans averaged 3.36 percent.

Rates for 15-year fixed-rate mortgages averaged dropped from 3.37 percent to 3.29 percent with an average 0.7 point in the week. A year ago in the same week, 15-year fixed-rate loans averaged 2.69 percent.

Rates for 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.03 percent this week with an average 0.6 point. Last week, rates for these loans averaged 3.07 percent. A year ago, they averaged 2.72 percent.

Rates for 1-year Treasury-indexed adjustable-rate loans averaged 2.63 percent in the week with an average 0.4 point, unchanged from the previous week.

Last year over the same period, rates for 1-year adjustable-rate loans averaged 2.57 percent.

One point is equal to 1 percent of the amount of the loan and is typically paid up front. It includes a corresponding discount on the loan’s long-term interest rates.

Interest rates pulled back partly in response to the partial U.S. government shutdown, said Freddie Mac Vice President and Chief Economist Frank Nothaft, noting that a shutdown of a week or more would begin to subtract growth from the country’s gross domestic product.

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.

Facebook Conversations

Join the Discussion:
View Comments to “U.S. Mortgage Rates Slide In Week”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.