U.S. Mortgage Rates Nudge Higher
Author:
Chad Wandler
Location: McLean
Date: 2013-03-29
Freddie Mac (OTCQB: FMCC) yesterday released the results of its Primary Mortgage Market Survey® (PMMS), showing average fixed mortgage rates moving slightly higher for the week but still remaining near historic lows. The average 30-year fixed-rate mortgage has remained below 4 percent for over a year providing support to the ongoing housing recovery. News Facts
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey. Quotes "Low and relatively steady mortgage rates are invigorating the housing market. For instance, existing home sales over January and February experienced the strongest two-month pace since November 2009, while new home sales were the strongest since August and September 2008. This strong demand helped push the S&P/Case-Shiller® 20-city home price index (seasonally adjusted) in January to its highest reading since December 2008. Moreover, the number of consumers expecting to purchase a home over the next six months rose to 5.6 percent in March, the second highest share since data was first collected in February 1964, according to The Conference Board."
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