|
To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week. The average does not 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 30-year loans was 0.7 point, up from 0.6 point last week. The fee for 15-year loans was unchanged at 0.6 point. The average rate on one-year adjustable rate mortgages declined to 2.61 percent from 2.63 percent last week. The fee for one-year adjustable rate loans was steady at 0.4 point. The average rate on five-year adjustable rate mortgages fell to 2.75 percent from 2.78 percent. The fee edged up to 0.7 point from 0.6.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor