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- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 15, 2014
- CFPB Sues Online Payday Lender for Cash-Grab Scam; The Hydra Group Uses Phony Payday Loans to Illegally Access Consumer Bank Accounts
- Former Bank Vice President Made More than $1.4 Million in Bad Loans
- NAHB: Builder Confidence Hits Highest Level Since Nov. 2005
- Consumer Financial Protection Bureau Sues For-Profit Corinthian Colleges for Predatory Lending Scheme; Bureau Seeks More than $500 Million In Relief For Borrowers of Corinthian’s Private Student Loans
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- OP-ED: Peace Cannot Be Achieved When the State Executes Innocent Men
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 12, 2014
FREDDIE MAC: Fixed Mortgage Rates Edge Down a Bit
"Mortgage rates eased a bit following the decline in 10-year Treasury yields," said Frank Nothaft, Freddie Mac's vice president and chief economist. "Also, the economy added 192,000 jobs in March, which was below the market consensus forecast but followed an upward revision of 22,000 jobs in February. Meanwhile, the unemployment rate held steady at 6.7 percent."
- 30-year fixed-rate mortgage (FRM) averaged 4.34 percent with an average 0.7 point for the week ending April 10, 2014, down from last week when it averaged 4.41 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.
- 15-year FRM this week averaged 3.38 percent with an average 0.6 point, down from last week when it averaged 3.47 percent. A year ago at this time, the 15-year FRM averaged 2.65 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.09 percent this week with an average 0.5 point, down from last week when it averaged 3.12 percent. A year ago, the 5-year ARM averaged 2.62 percent.
- 1-year Treasury-indexed ARM averaged 2.41 percent this week with an average 0.5 point, down from last week when it averaged 2.45 percent. At this time last year, the 1-year ARM averaged 2.62 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.