Web Sify
Follow us on
Mail
Print

News Summary: 30-year mortgage rate at 3.40 pct.

Source : AP
Last Updated: Thu, Jan 10, 2013 16:45 hrs

: Average U.S. rates on fixed mortgages rose this week but remained close to record lows. Cheap mortgages have made home buying more affordable and have helped drive a housing recovery.

THE NUMBERS: Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 3.40 percent, up from 3.34 percent last week and just above the record low of 3.31 percent. The average for the 15-year fixed mortgage rose to 2.66 percent from 2.64 percent last week. The record low is 2.63 percent.

RISING TREASURY YIELDS: Mortgage rates tend to track the yield on the 10-year Treasury note, which has risen this year from 1.70 percent to 1.89 percent.




blog comments powered by Disqus
most popular on facebook
talking point on sify finance