Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Mortgage Rates Rise In Week

WASHINGTON (UPI) — The Federal Home Loan Mortgage Corp. said long-term lending rates rose in the week ending Thursday on the strength of a positive employment report.

“Fixed mortgage rates increased this week following stronger than expected economic data releases. Nonfarm payrolls increased by 204,000 in October, above the consensus forecast. In addition, revisions added 60,000 additional jobs to the prior two month releases,” said Freddie Mac Vice President and Chief Economist Frank Nothaft.

Rates for 30-year fixed-rate mortgages rose from 4.16 percent to 4.35 percent with 0.7 point in the past week.

A year ago, rates for 30-year, fixed-rate mortgages averaged 3.34 percent.

Rates for 15-year fixed-rate mortgages rose from 3.27 percent to 3.35 percent with an average 0.7 point in the week. A year ago in the same week, 15-year fixed-rate loans averaged 2.65 percent.

Rates for 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.01 percent this week with an average 0.4 point. Rates a week ago averaged 2.96 percent. A year ago, they averaged 2.74 percent.

Rates for 1-year Treasury-indexed adjustable-rate loans averaged 2.61 percent in the week, unchanged from the previous week. One-year loans averaged 0.4 point.

Last year over the same period, rates for 1-year adjustable-rate loans averaged 2.55 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.

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 “Mortgage Rates Rise 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.