|
The yield declines when demand for Treasurys increases. The Federal Reserve has been buying Treasury bonds since the fall. And in recent weeks, concerns that economic growth is slowing in the U.S. and abroad has led investors to shift money into safer assets, like Treasurys, and away from stocks. To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through 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 30-year mortgages edged down to 0.7 point from 0.8 point last week. The fee for 15-year loans was unchanged at 0.7 point. The average rate on a one-year adjustable-rate mortgage fell to 2.56 percent from 2.62 percent last week. The fee for one-year adjustable-rate loans held steady at 0.3 point. The average rate on a five-year adjustable-rate mortgage declined to 2.56 percent from 2.58 percent. The fee was stable at 0.5 point.
[Associated
Press;
Copyright 2013 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 This material may not be published,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