- Three People Arrested in Connection with Multi-County Drug Trafficking Operation
- Marshall University Forensic Science Graduate Program student receives national award
- Huntington Police Make Burglary Arrest
- President Bill Clinton to Campaign for Hillary Clinton in Morehead, Lexington, Louisville Kentucky
- Law Enforcement Across North Carolina Comes Out in Favor of Syringe Exchange
- Congressman Shuster Endorses Donald Trump for President
- Announcing the new Tamarack Foundation Emerging Artist Fellowship
- Advisory Board
- Governor Tomblin Endorses Hillary Clinton for President
- Miss America Titleholders from all 52 States and Territories to Raise Money for Children’s Miracle Network Hospitals
Mortgage rates move higher following December's employment report
Friday, January 11, 2013 - 00:16 Updated 3 years ago Special to HuntingtonNews.Net
"Fixed mortgage rates increased slightly following a positive employment report for December," said Frank Nothaft, Freddie Mac's vice president and chief economist. "The economy added 155,000 jobs, above the consensus market forecast, and November's job growth was revised upward by another 24,000 workers. This helped keep the unemployment rate steady at 7.8 percent, the lowest since December 2008. For all of 2012, 1.86 million jobs were created and represented the largest annual gain since 2006."
News Facts: > 30-year fixed-rate mortgage (FRM) averaged 3.40 percent with an average 0.7 point for the week ending January 10, 2013, up from last week when it averaged 3.34 percent. Last year at this time, the 30-year FRM averaged 3.89 percent.
> 15-year FRM this week averaged 2.66 percent with an average 0.7 point, up from last week when it averaged 2.64 percent. A year ago at this time, the 15-year FRM averaged 3.16 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.67 percent this week with an average 0.6 point, down from last week when it averaged 2.71 percent. A year ago, the 5-year ARM averaged 2.82 percent.
1-year Treasury-indexed ARM averaged 2.60 percent this week with an average 0.5 point, up from last week when it averaged 2.57. At this time last year, the 1-year ARM averaged 2.76 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.
Get the latest information from Freddie Mac's Office of the Chief Economist on Twitter: @FreddieMac //