- ISIS Troops One Mile from Baghdad
- Bates, Caserta, Council Ask for Gillespie's Resignation
- Ciccarelli named Huntington’s next chief of police
- CFPB Takes Action Against Flagstar Bank for Violating New Mortgage Servicing Rules; Flagstar to Pay $37.5 Million for Blocking Mortgage Borrowers' Attempts to Save Their Homes
- Huntington District artifacts transferred to the Veterans Curation Program
- Councilman Taken to Jail for Alleged Home Confinement Violation
- Marshall's Department of Social Work provides job opportunities to students through child welfare program
- Multi-million dollar federal grant renewed for Marshall researchers and statewide collaborators
- Huntington Receives Department of Justice Crime Fighting Grant
- Boil Water Advisory for Some Salt Rock Customers
FREDDIE MAC: Mortgage Rates Dip To New Record Lows: 3.34% for 30-Year Mortgage
"Fixed mortgage rates eased this week to record lows on indicators of higher consumer confidence and lower wholesale prices," said Frank Nothaft, Freddie Mac's vice president and chief economist. "Consumer sentiment rose in November to the highest reading since July 2007 according to the University of Michigan. Meanwhile, the core producer price index fell 0.2 percent in October."
The 30-year fixed-rate mortgage (FRM) averaged 3.34 percent with an average 0.7 point for the week ending November 15, 2012, down from last week when it averaged 3.40 percent. Last year at this time, the 30-year FRM averaged 4.00 percent. The, 15-year FRM this week averaged 2.65 percent with an average 0.7 point, down from last week when it averaged 2.69 percent. A year ago at this time, the 15-year FRM averaged 3.31 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent this week with an average 0.6 point, up from last week when it averaged 2.73 percent. A year ago, the 5-year ARM averaged 2.97 percent. The 1-year Treasury-indexed ARM averaged 2.55 percent this week with an average 0.3 point, down from last week when it averaged 2.59 percent. At this time last year, the 1-year ARM averaged 2.98 percent.
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 Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.