U.S. mortgage rates hold steady for the week

TRD New York /
Dec.December 26, 2013 06:03 PM

On the heels of the Federal Reserve’s announcement that it will reduce bond purchases, U.S. mortgage rates largely maintained status quo this week. The average for 30-year fixed rate mortgages rose to 4.48 percent this week from 4.47 percent, according to Freddie Mac data. The average 15-year rate saw similarly slight growth – to 3.52 percent from 3.51 percent week-over-week.

“Slightly higher rates are unlikely to be enough to derail the housing-market recovery as improvement in labor markets and other economic fundamentals keeps the recovery on track,” Gennadiy Goldberg, a strategist at the Midtown West office of Canadian investment firm TD Securities, told Bloomberg News.

August was a big month for the 30-year mortgage, as the rate reached 4.58 percent and hit a two-year high, Bloomberg reported.

Meanwhile, the Mortgage Bankers Association reported different data for the week. U.S. home mortgage applications fell for the second consecutive week to a 13-year low. Application activity dropped 6.3 percent to the lowest level seen since December 2000, according to the MBA report. [Bloomberg News]Mark Maurer


Related Articles

arrow_forward_ios
The number of closed sales fell by more than 14 percent year over year in the third quarter (Credit: iStock)

Low mortgage rates are killing Manhattan’s all-cash buyer

US home mortgage debt surges past pre-recession record

(Credit: iStock)

Despite housing market slowdown, mortgage lenders just had a great second quarter

The Daily Dirt: The dark cloud hanging over buyers

Trump proposal would make getting a mortgage harder for homeowners deep in debt

Everything you need to know about Realogy and Amazon’s TurnKey partnership

Almost 40% of homes in the US are
mortgage-free

Banks see uptick in mortgages, but remain wary ahead of potential Fed interest rate cut

arrow_forward_ios