- Adding Beauty to the Fall at Barboursville Park
- UP CLOSE: Preparing to "Jump" and Taking the "Plunge" on Bridge Day Images
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Oct. 23, 2014
- Man Arrested on 8th Avenue for Heroin Delivery
- Two Members of Newman Drug Gang Enter Guilty Pleas
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Oct. 22, 2014
- Detroit Man Arrested for Heroin Distribution
- BOOK REVIEW: 'Unveiling the Mind': Poems by Chicago Writer Beatriz Badikian-Gartler Reach Out to Readers
- West Virginia Film Office iPhone App to Provide On-the-Go Access to Film Industry Resources
- Four Sentenced on Heroin Charges in Beckley
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.