1.
U.S. markets recover from steep losses
WASHINGTON, April 3 (UPI) -- Interest rates for 30-year fixed-rate mortgages increased in the United States this week, Freddie Mac reported Thursday.
At 5.88, the average 30-year fixed interest rate increased slightly from last week's average of 5.85 percent with mortgages including an average of 0.5 points. The 30-year fixed-rate mortgage averaged 6.17 percent a year ago, the report said.
Fifteen-year fixed rate mortgages also gained during the week ending April 3, averaging 5.42 percent with an average of 0.5 points. A week ago 15-year fixed rate mortgages averaged 5.34 percent, while a year ago they averaged 5.87 percent, the weekly report said.
"While prime, conforming rates still remain at historically low levels, long-term mortgage rates did drift slightly upward this week on signs that the economy may have a little more strength than what financial markets forecast," said Freddie Mac chief economist Frank Northaft.
"Housing, however, still continues to be a drag on the economy," he said.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
