Average U.S. rate on 30-year loan falls

Average U.S. rates for fixed mortgages fell this week as the latest data continued to indicate a pause in the housing market’s recovery.
Published: February 6, 2014
Advertisement
;

In brief

Mortgage rates fall

Average U.S. rates for fixed mortgages fell this week as the latest data continued to indicate a pause in the housing market’s recovery.

Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan declined to 4.23 percent from 4.32 percent last week. The average for the 15-year loan dipped to 3.33 percent from 3.40 percent.

Mortgage rates have risen about a full percentage point since hitting record lows about a year ago. The rise was driven by speculation the Federal Reserve would cut its $85 billion monthly bond purchases.

Data released Tuesday by real estate specialist CoreLogic showed U.S. home prices slipped from November to December, and the year-over-year increase slowed, likely a result of weaker sales.

Most economists expect home sales and prices to keep rising this year, but at a slower pace.

Associated Press


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Hotel leaves Oklahoma City Thunder opponents telling ghost stories
  2. 2
    Check out the Thunder postseason playlist
  3. 3
    VIDEO: Blake Griffin dumps water on a fan
  4. 4
    Oklahoma City Thunder: Grizzlies guard Nick Calathes calls drug suspension unfair
  5. 5
    Dave Chappelle Reveals Shockingly Buff New Look
+ show more