WASHINGTON (AP) — Long-term U.S. mortgage rates edged slightly lower this week, taking a pause after five straight weeks of increases.
Costs for would-be homebuyers have been climbing, and the key 30-year rate has been running at its highest levels in more than seven years. Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages ticked down to 4.71 percent this week from 4.72 percent last week. The average benchmark rate has risen from 3.85 percent a year ago. The average rate on 15-year, fixed-rate loans slipped to 4.15 percent this week from 4.16 percent last week.
The Federal Reserve signaled its confidence in the economy last week by raising a key interest rate for a third time this year, forecasting another rate hike before year’s end.
- Posted October 05, 2018
- Tweet This | Share on Facebook
Long-term U.S. mortgage rates edge lower
headlines Oakland County
- Associations gather for Spring Fling
- Law school’s team wins William and Mary Colonial Cup Competition
- Supreme Court makes it easier to sue for job discrimination over forced transfers
- Oakland County Physician bound over on insurance fraud charges
- Innocence Project leaders present at University of Pennsylvania Carey Law School Spring Symposium
headlines National
- Incarceration series includes female inmates but doesn’t tell full story
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Former DOJ official who alleged election fraud violated at least one ethics rule, ethics committee says
- Winston & Strawn will provide reduced-cost legal services for routine tasks under Winston Legal Solutions umbrella
- Should Justice Sotomayor retire? Chemerinsky, White House haven’t joined calls for her to step down
- Which BigLaw firms are increasing lateral associate hiring the most? One made legal headlines last year
