- Heroin and Fentanyl Are the Most Popular Drugs in Charleston Right Now, Police Say. Meth Use Is on the Upswing
- Cleveland OD Deaths Prompt Public Health Warning
- Marshall psychology doctoral degree ranked No. 2 in the U.S.
- "What the Night Can Do" begins filming in Lewisburg Sep. 26
- Hallowed WTC Steel Relics Arrive in Huntington IMAGES
- Rooster's Hosts Princess Night with Mickey and Minnie Mouse IMAGES
- - Candidates go beyond sound bites on major issues facing older West Virginians & their families
- FIRST LOOK: "Magnificent Seven" Saddles Up Excitement as an Ole West Mercenary Squad
- UPDATED... HPD Nets Four Controlled Substance Arrests September 23-24; Burglaries Reported
- DEVELOPING: Huntington Council Passes All Second Readings
FREDDIE MAC: Fixed Mortgage Rates Move Lower on Economic Data
"Mortgage rates drifted downward this week amid signs of a weakening economic recovery," said Frank Nothaft, Freddie Mac's vice president and chief economist. "The economy added 74,000 jobs in December, less than the market consensus forecast. Retail sales [PDF] rose 0.2 percent in December, which was nearly half of November's 0.4 percent increase. Meanwhile, the unemployment rate fell to 6.7 percent which was the lowest since October 2008."
- 30-year fixed-rate mortgage (FRM) averaged 4.41 percent with an average 0.7 point for the week ending January 16, 2014, down from last week when it averaged 4.51 percent. A year ago at this time, the 30-year FRM averaged 3.38 percent.
- 15-year FRM this week averaged 3.45 percent with an average 0.7 point, down from last week when it averaged 3.56 percent. A year ago at this time, the 15-year FRM averaged 2.66 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. A year ago, the 5-year ARM averaged 2.67 percent.
- 1-year Treasury-indexed ARM averaged 2.56 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.57 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.