- ISIS Troops One Mile from Baghdad
- Bates, Caserta, Council Ask for Gillespie's Resignation
- Councilman Taken to Jail for Alleged Home Confinement Violation
- CFPB Takes Action Against Flagstar Bank for Violating New Mortgage Servicing Rules; Flagstar to Pay $37.5 Million for Blocking Mortgage Borrowers' Attempts to Save Their Homes
- Boil Water Advisory for Some Salt Rock Customers
- Huntington District artifacts transferred to the Veterans Curation Program
- Ciccarelli named Huntington’s next chief of police
- Marshall's Department of Social Work provides job opportunities to students through child welfare program
- Rally for Marijuana
- CDC and Texas Health Department Confirm First Ebola Case Diagnosed in the U.S.
FREDDIE MAC: Mortgage Rates Near Seven Month Low Heading into Memorial Day Weekend
"Mortgage rates continued to decline this week as industrial production [PDF] slipped by 0.6 percent in April, below the market consensus forecast," said Frank Nothaft, Freddie Mac's vice president and chief economist. "Meanwhile, housing starts [PDF] jumped 13 percent in April to a seasonally adjusted annual rate of 1,072,000 units, well above expectations. Permits rose to a seasonally adjusted annual rate of 1,080,000 in April, also above expectations."
- 30-year fixed-rate mortgage (FRM) averaged 4.14 percent with an average 0.6 point for the week ending May 22, 2014, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.59 percent.
- 15-year FRM this week averaged 3.25 percent with an average 0.5 point, down from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week with an average 0.4 point, down from last week when it averaged 3.01 percent. A year ago, the 5-year ARM averaged 2.63 percent.
- 1-year Treasury-indexed ARM averaged 2.43 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.55 percent.