- Attorney General Morrisey, 21 States Win Gun Rights Victory
- Public advocacy group retains Washington law firm to mount antitrust challenge to proposed Dow-DuPont merger
- Protecting the integrity of Social Security
- Council Deliberating Legislative Hate Crime Recommendation
- Questions About Proposed Department of Energy Budget Requests
- COLUMN: The Republican Debate: Who Goes First?
- Man Dead in Marcum Terrace Shooting; Police Seek Suspect
- WAAAHHHH…but we don’t wanna get arrested!!
- Attorney General Morrisey & Coalition Files Response To EPA in U.S. Supreme Court
- More than $200,000 in Heroin, Cocaine Seized as Part of Ongoing Drug Trafficking Investigation
FREDIE MAC: 30-year Fixed-rate Mortgage Hits Low for 2014
"Mortgage rates continued moving down following the decline in 10-year Treasury yields after a dismal report on real GDP growth in the first quarter," said Frank Nothaft, vice president and chief economist of Freddie Mac. "Meanwhile, the economy added 288,000 jobs in April, the largest since January 2012, and followed an upward revision of 36,000 jobs for the prior two months. Also, the unemployment rate fell to 6.3 percent."
- 30-year fixed-rate mortgage (FRM) averaged 4.21 percent with an average 0.6 point for the week ending May 8, 2014, down from last week when it averaged 4.29 percent. A year ago at this time, the 30-year FRM averaged 3.42 percent.
- 15-year FRM this week averaged 3.32 percent with an average 0.6 point, down from last week when it averaged 3.38 percent. A year ago at this time, the 15-year FRM averaged 2.61 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.05 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.58 percent.
- 1-year Treasury-indexed ARM averaged 2.43 percent this week with an average 0.4 point, down from last week when it averaged 2.45 percent. At this time last year, the 1-year ARM averaged 2.53 percent.