- Following Brief Eulogy to his Father, Huntington Mayor Told Council, "Let's Get to Work..."
- Prepared Remarks of Richard Cordray of CFPB on CareCredit Enforcement Action
- Highlawn Baptist Church, Various Items to Sell at Auction
- DEA NEWS: Greek National Pleads Guilty in Narco-Terror Conspiracy
- 22 Year Old Driver Dies from Crash Injuries
- Marshall University Board approves 10-year Master Plan
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Dec. 11, 2013
- Marshall Has 21 Named to All-Conference and All-Freshman Teams
- Contaminated Debris of Huntington Pilot Plant Transported by Truck in 1979
- CoreLogic: Record Low Number of Natural Hazard Events, Unusual Sinkhole Activity Spotlighted in Annual Natural Hazard Risk Summary and Analysis Highlighting Significant U.S. Natural Disasters in 2013
FREDDIE MAC: Mortgage Rates up on Taper Timing Speculation
"Fixed mortgage rates continued to follow bond yields higher leading up to the August 21st release of the Federal Reserve monetary policy committee's minutes for July," said Frank Nothaft, Freddie Mac's vice president and chief economist. "In its July 30th and 31st meetings, the committee members were broadly comfortable with a plan to start reducing its bond purchases later this year, although a few emphasized the importance of being patient.
"Meeting participants acknowledged mortgage rate increases might restrain housing market activity, but several members expressed confidence the housing recovery would be resilient in the face of higher rates. In fact, existing home sales increased in July to the strongest pace since November 2009 and homebuilder confidence in August rose to its highest reading since November 2005. Both increases occurred after mortgage rates had risen from their spring-time lows."
- 30-year fixed-rate mortgage (FRM) averaged 4.58 percent with an average 0.8 point for the week ending August 22, 2013, up from last week when it averaged 4.40 percent. A year ago at this time, the 30-year FRM averaged 3.66 percent.
- 15-year FRM this week averaged 3.60 percent with an average 0.7 point, up from last week when it averaged 3.44 percent. A year ago at this time, the 15-year FRM averaged 2.89 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. A year ago, the 5-year ARM averaged 2.80 percent.
- 1-year Treasury-indexed ARM averaged 2.67 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.66 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 the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.