U.S. Mortgage Rates Up on Signs of Improving Economy
Author:
Chad Wandler
Location: McLean
Date: 2013-03-15
Freddie Mac (OTCQB: FMCC) yesterday released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates rising this week on stronger signs of jobs growth and consumer spending. The 30-year fixed averaged 3.63 percent, its highest reading since the week of August 23, 2012. The 30-year fixed hit its average all-time record low of 3.31 percent the week of November 21, 2012. 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 "Fixed mortgage rates rose this week on stronger signs of jobs growth and consumer spending. The economy added 236,000 new workers in February which helped push down the unemployment rate to 7.7 percent. This helped offset the effects of the payroll tax holiday expiration and led to a 1.1 percent increase in retail sales, which was well above the market consensus forecast."
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