- Marshall Names Temple’s Chuck Heater as Defensive Coordinator
- Marshall University Board approves 10-year Master Plan
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Dec. 11, 2013
- Highlawn Baptist Church, Various Items to Sell at Auction
- Huntington Hires Communications Director
- OP-ED: Masculinity Question Still Missing Post Newtown
- Home Builders, Realtors Applaud Melvin Watt's Senate Confirmation as Director of Federal Housing Finance Agency (FHFA)
- DEA NEWS: Greek National Pleads Guilty in Narco-Terror Conspiracy
- Consumer Financial Protection Bureau Report: Few Consumers File Arbitration Cases
- Prepared Remarks of Richard Cordray of CFPB on CareCredit Enforcement Action
FREDDIE MAC: Fixed Mortgage Rates Drop to Four Month Low -- But Still Higher Than a Year Ago
"Mortgage rates slid this week as the partial government shutdown led to market speculation that the Federal Reserve will not alter its bond purchases this year," said Frank Nothaft, Freddie Mac's chief economist and vice president. "The weak employment report for September added to this expectation. The economy added just 148,000 jobs, which was below the market consensus forecast and less than the 193,000 jobs increase in August."
- 30-year fixed-rate mortgage (FRM) averaged 4.13 percent with an average 0.8 point for the week ending October 24, 2013, down from last week when it averaged 4.28 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent.
- 15-year FRM this week averaged 3.24 percent with an average 0.6 point, down from last week when it averaged 3.33 percent. A year ago at this time, the 15-year FRM averaged 2.72 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.00 percent this week with an average 0.4 point, down from last week when it averaged 3.07 percent. A year ago, the 5-year ARM averaged 2.75 percent.
- 1-year Treasury-indexed ARM averaged 2.60 percent this week with an average 0.5 point, down from last week when it averaged 2.63 percent. At this time last year, the 1-year ARM averaged 2.59 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.