Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Average U.S. 30-year mortgage rate at 4.1 percent

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
Published:
WASHINGTON — The average 30-year U.S. mortgage rate remained at a 52-week low of 4.10 this week.
Mortgage company Freddie Mac also said Thursday that the average for a 15-year mortgage, a popular choice for people who are refinancing, rose to 3.25 percent from 3.23 percent.
At its 52-week low of 4.10 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end in October.
The low rates appear to have boosted U.S. home sales. Data released Thursday showed that more Americans signed contracts to buy homes in July. The National Association of Realtors said its seasonally adjusted pending home sales index rose 3.3 percent to 105.9 last month. Still, the index remains 2.1 percent below its level a year ago.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage was 0.5 point, unchanged from last week. The fee for a 15-year mortgage remained at 0.6 point.
The average rate on a five-year adjustable-rate mortgage rose to 2.97 percent from 2.95 percent. The fee stayed at 0.5 point.
For a one-year ARM, the average rate edged up to 2.39 percent from 2.38 percent. The fee was stable at 0.5 point.
Story tags » Real EstateFinancial & Business Services

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup