- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 15, 2014
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 16, 2014
- Five Detroit Men Arrested in Olive Street Drug Raid Following Bar Shooting
- 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: 'Who Speaks for Earth?'
- Preventing Substance Abuse and Mental Illness
- Potential Upscale Hotel Approved for Kinetic Park
- Grand opening of Visual Arts Center slated for Sept. 18-19
- Soaring Lap Earns Jeff Gordon Sprint Cup Pole At Michigan
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Sep. 12, 2014
FREDDIE MAC: Mortgage Rates Hold Steady
"Mortgage rates were little changed amid a week of light economic reports," said Frank Nothaft, Freddie Mac's vice president and chief economist. "The 30-year fixed-rate mortgage rate remained unchanged from the previous week at 4.10 percent. Of the few releases, the ISM's manufacturing index rose to 59.0 in August from 57.1 the previous month. This was the highest reading of the index since March 2011."
- 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending September 4, 2014, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.57 percent.
- 15-year FRM this week averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.25 percent. A year ago at this time, the 15-year FRM averaged 3.59 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 3.28 percent.
- 1-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, up from last week when it averaged 2.39 percent. At this time last year, the 1-year ARM averaged 2.71 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.