clear
Friday October 20th, 2017 5:45PM

US long-term mortgage rates rise for 2nd week, to 3.91 pct.

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — Long-term mortgage rates rose for a second straight week as the average 30-year fixed mortgage rate increased to 3.91 percent, from 3.85 percent a week ago.

Mortgage buyer Freddie Mac says the 15-year home loan, frequently used by homeowners who refinanced their mortgages, also jumped, rising to 3.21 percent, from 3.15 percent.

Mortgage rates have picked up a bit in the past month. The average 30-year rate fell to 3.78 percent in early September, its lowest level this year.

Rates on home loans typically track the yield on 10-year Treasury notes, which have increased in recent weeks. Federal Reserve policymakers indicated in a meeting last month that they are likely to raise short-term rates for the third time this year in December, a move that can also lift longer-term rates.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and 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 unchanged from last week at 0.5 point. The fee on 15-year loans also remained at 0.5 point.

Rates on adjustable five-year loans slipped to 3.16 percent from 3.18 percent last week. The fee was unchanged at 0.4 point.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Personal Finance
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
French President Macron launches Step 2 of labor changes
French President Emmanuel Macron is launching step two of his campaign to rethink French labor law, focusing on unemployment benefits and job training
11:21AM ( 8 minutes ago )
Family held captive by Taliban-linked group released
American woman, her Canadian husband and 3 young children released after years in captivity by Taliban-allied network
11:16AM ( 14 minutes ago )
Twitter suspends account of Weinstein critic Rose McGowan
Rose McGowan's Twitter account has been suspended, muting a central figure in the allegations against Harvey Weinstein
11:08AM ( 22 minutes ago )
Associated Press (AP)
US long-term mortgage rates rise for 2nd week, to 3.91 pct
US long-term mortgage rates rise for 2nd week to highest since early August
10:51AM ( 39 minutes ago )
NYC police taking fresh look at Weinstein sex assault claims
New York City police detectives are taking a fresh look into sexual assault allegations against Harvey Weinstein
10:51AM ( 39 minutes ago )
Greenpeace activists light fireworks at French nuclear plant
Eight environmental have broken into a French nuclear power station and set off fireworks to urge better protection for nuclear waste and protest France's dependence on atomic energy
10:49AM ( 41 minutes ago )
AP Business
EU laments Brexit progress amid divorce bill deadlock
The EU's Brexit negotiator says the two sides have made little progress in a fifth round of talks on Britain's departure from the EU
9:02AM ( 2 hours ago )
Fewer people seek jobless aid as hurricane impact fades
Applications for US unemployment benefits fall for 2nd week as hurricane impact fades
8:36AM ( 2 hours ago )
Stocks mixed amid earnings, Brexit talks deadlock
Stock markets are mixed as investors digest upbeat earnings from bank JPMorgan Chase and a lack of progress in Brexit talks
7:31AM ( 3 hours ago )
AP Business - Economy
24 receive 'genius grants' from MacArthur Foundation
Twenty-four people working in fields ranging from music to computer science have been selected as MacArthur fellows and will receive so-called "genius" grants of $625,000 to spend any way they wish
12:08PM ( 23 hours ago )
How Trump tax plan would alter mortgage interest deduction
Each year the U.S. tax code transfers roughly $70 billion to homeowners, primarily on the East and West coasts
8:22AM ( 1 day ago )
23 receive 'genius grants' from MacArthur Foundation
Twenty-three people working in fields ranging from music to computer science have been selected as MacArthur fellows and will receive so-called "genius" grants of $625,000 to spend any way they wish
2:01AM ( 1 day ago )
AP Business - Personal Finance
French President Macron launches Step 2 of labor changes
French President Emmanuel Macron is launching step two of his campaign to rethink French labor law, focusing on unemployment benefits and job training
11:21AM ( 8 minutes ago )
Family held captive by Taliban-linked group released
American woman, her Canadian husband and 3 young children released after years in captivity by Taliban-allied network
11:16AM ( 14 minutes ago )
Twitter suspends account of Weinstein critic Rose McGowan
Rose McGowan's Twitter account has been suspended, muting a central figure in the allegations against Harvey Weinstein
11:08AM ( 22 minutes ago )
New lawsuits aim to prevent more violence in Charlottesville
The city of Charlottesville is joining a lawsuit that seeks to prevent the heavily armed bands of white nationalists and militia groups that descended on the Virginia city for a violent summer rally from returning
11:03AM ( 27 minutes ago )
Bill Clinton to present honorary prize to publishing CEO
Bill Clinton is coming to the National Book Awards: The National Book Foundation announced Thursday that the former president, and best-selling author, will present an honorary prize to Scholastic Inc. CEO Richard Robinson
11:01AM ( 28 minutes ago )