WASHINGTON, April 17 (UPI) -- Interest rates for 30-year fixed-rate mortgages were unchanged in the United States for the second week running, Freddie Mac reported Thursday.
The average 30-year fixed interest rate remained at 5.88 percent with an average of 0.4 points for the week ending April 17, Freddie Mac said.
A year ago, 30-year fixed rate mortgages averaged 6.17 percent.
At 5.40 with an average of 0.4 points, the 15-year fixed rate mortgages declined slightly from 5.42 percent the previous week. A year ago, 15-year fixed rates stood at 5.89 percent.
"ARM (adjustable-rate mortgages) rates continued to decline amid market speculation that the Federal Reserve may cut rates again at its upcoming committee meeting," Freddie Mac chief economist Frank Northaft said.
A decline in housing starts in March -- to the lowest rate since March 1991 -- and declining consumer confidence, "suggest nearly a 100 percent probability that the Fed will cut rates at the end of this month," he said.
| Additional News Stories | |
PROVIDENCE, R.I., Nov. 22 (UPI) --
U.S. Rep. Patrick Kennedy, D-R.I., says he has been banned by a Catholic bishop from receiving the sacrament of communion.
|
HENRIETTA, N.Y., Nov. 22 (UPI) --
Former Alaska Gov. Sarah Palin appeared in South Strabane, Pa., and Henrietta, N.Y., in promotion for her book "Going Rogue," event organizers said.
|