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Concerns over the possibility that interest rates will continue to rise have spurred some homeowners to close deals quickly. U.S. sales of previously occupied homes rose 1.7 percent last month to a seasonally adjusted annual rate of 5.48 million, the National Association of Realtors said Thursday. That's the highest level since February 2007. 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 a 30-year mortgage was steady at 0.7 point. The fee for a 15-year loan also was unchanged at 0.7 point. The average rate on a one-year adjustable-rate mortgage slipped to 2.65 percent from 2.67 percent. The fee was unchanged at 0.4 point. The average rate on a five-year adjustable mortgage dipped to 3.11 percent from 3.22 percent. The fee was unchanged at 0.5 point.
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