US Average Rate On 30-Year Loan Up To 4.39% - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

US Average Rate On 30-Year Loan Up To 4.39%

By MARCY GORDON
AP Business Writer

WASHINGTON (AP) - Average rates on U.S. fixed mortgages ticked up this week but are still low by historical standards, a trend that has helped the housing market recover.

Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan rose to 4.39 percent from 4.31 percent last week. Rates are a full percentage point higher than in early May.

The average on the 15-year fixed loan increased to 3.43 percent from 3.39 percent last week.

Rates spiked in June after the Federal Reserve indicated it could slow its bond purchases later this year, which have kept long-term interest rates low.

But on Wednesday the Fed hinted it might hold off because the economy remains sluggish. And it noted for the first time that mortgage rates, which have fueled home sales, "have risen somewhat" from record lows.

Mortgage rates tend to follow the yield on the 10-year Treasury note, which has also jumped on speculation that the Fed could slow its stimulus.

Despite the increases, mortgages are still a bargain for those who can qualify. And low rates are helping boost home sales in most markets and driving home prices up.

Home prices jumped 12.2 percent in May compared with a year earlier, according to the latest Standard & Poor's/Case-Shiller 20-city index released Tuesday. That's the biggest annual gain since March 2006.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was 0.7 point this week, down from 0.8 point last week. The fee for a 15-year loan also declined to 0.7 point from 0.8 point.

The average rate on a one-year adjustable-rate mortgage dipped to 2.64 percent from 2.65 percent. The fee was unchanged at 0.4 point.

The average rate on a five-year adjustable mortgage rose to 3.18 percent from 3.16 percent. The fee declined to 0.6 point from 0.7.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Local NewsNewsMore>>

  • Support from Conservative Freedom Caucus boosts tax bill

    Support from Conservative Freedom Caucus boosts tax bill

    Thursday, December 14 2017 3:54 AM EST2017-12-14 08:54:53 GMT
    Thursday, December 14 2017 3:47 PM EST2017-12-14 20:47:54 GMT

    Generous tax cuts for corporations and the wealthiest Americans would be delivered in a sweeping overhaul of the tax laws, under a new agreement crafted by Republicans in Congress.

    Generous tax cuts for corporations and the wealthiest Americans would be delivered in a sweeping overhaul of the tax laws, under a new agreement crafted by Republicans in Congress.

  • Disney buying large part of 21st Century Fox in $52.4B deal

    Disney buying large part of 21st Century Fox in $52.4B deal

    Thursday, December 14 2017 7:24 AM EST2017-12-14 12:24:47 GMT
    Thursday, December 14 2017 3:46 PM EST2017-12-14 20:46:15 GMT

    Disney is buying a big chunk of the Murdoch family's 21st Century Fox in $52.4 billion deal, gaining U.S. cable channels and a major film studio and growing overseas as it tries to meet competition from technology...

    Disney is buying a big chunk of the Murdoch family's 21st Century Fox in $52.4 billion deal, gaining U.S. cable channels and a major film studio and growing overseas as it tries to meet competition from technology companies.

  • Home is unlivable following electrical fire

    Home is unlivable following electrical fire

    Thursday, December 14 2017 3:41 PM EST2017-12-14 20:41:17 GMT

    There was a small structure fire on Rhoades Road in Meers today. The home was evacuated. Fire officials with the Medicine Park Fire Department say that there was enough damage to upper part of the home that it may be a total loss. They said the homeowner’s insurance will determine the severity but, as of right now, the home is not livable. The fire was electrical in nature but an investigation is still ongoing. Copyright 2017 KSWO. All rights reserved.

    There was a small structure fire on Rhoades Road in Meers today. The home was evacuated. Fire officials with the Medicine Park Fire Department say that there was enough damage to upper part of the home that it may be a total loss. They said the homeowner’s insurance will determine the severity but, as of right now, the home is not livable. The fire was electrical in nature but an investigation is still ongoing. Copyright 2017 KSWO. All rights reserved.

Powered by Frankly