- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 16, 2014
- Five Detroit Men Arrested in Olive Street Drug Raid Following Bar Shooting
- 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
- NAHB: Builder Confidence Hits Highest Level Since Nov. 2005
- Former Bank Vice President Made More than $1.4 Million in Bad Loans
- Suspected Drug Dealer Released on Bond Before Police Leave Scene of Arrest
- 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
- OP-ED: Peace Cannot Be Achieved When the State Executes Innocent Men
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 12, 2014
FREDDIE MAC: Mortgage Rates Little Changed Heading into Holiday Weekend
"Mortgage rates were little changed from the previous week and remain below levels seen the same time last year, which should provide some help with homebuyer affordability in many markets," said Frank Nothaft, Freddie Mac's vice president and chief economist. "Recent housing data was better with pending home sales up 6.1 percent in May and overall construction spending [PDF] showing a slight improvement with private residential spending now up 7.5 percent on yearly basis."
- 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.5 point for the week ending July 3, 2014, down from last week when it averaged 4.14 percent. A year ago at this time, the 30-year FRM averaged 4.29 percent.
- 15-year FRM this week averaged 3.22 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.39 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week with an average 0.4 point, unchanged from last week. A year ago, the 5-year ARM averaged 3.10 percent.
- 1-year Treasury-indexed ARM averaged 2.38 percent this week with an average 0.4 point, down from last week when it averaged 2.40 percent. At this time last year, the 1-year ARM averaged 2.66 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.