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The average rate on the 30-year fixed mortgage rose this week for the first time in a month, though it remained below 4 percent for the eighth straight week.
The low rates have had few takers because most who can afford to buy or refinance have already done so.
Freddie Mac says the average rate on the 30-year fixed mortgage rose to 3.98 percent this week. That's up from 3.88 percent the previous week, which was the lowest level on record.
The average on the 15-year fixed mortgage also rose to 3.24 percent, from 3.17 percent the previous week.
In the West, a 30-year fixed mortgage averaged 3.92 percent, and a 15-year fixed mortgage averaged 3.20 percent.
Mortgage rates are low because they tend to track the yield on the 10-year Treasury note, which fell below 2 percent this week.
--The Associated Press
Yep,
but you didn't mention that this is caused by Congress!
Apparently, since the housing market is doing sooooo welll they decided to place a "loan fee" for 10 years on Fannie Mae and Freddie Mac loans to pay for: (traaaa drummmm)
two months of the "payroll tax cut"
that robs from Social Security to buy votes!
Since it is for 10 years, it encumbers any changes (elimination) of Fannie and Freddie!
Yes!
The Grandpa Baby Boomers are
borrowing their way to prosperity
while making sure the country is a push over when China comes to collect
with their moon base as the enforcer.
LOL in Oregon
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