U.S. mortgage rates slip in week

April 4, 2013 at 1:26 PM
| License Photo

WASHINGTON, April 4 (UPI) -- U.S. mortgage rates slipped in the week, the Federal Home Loan Mortgage Corp. said Thursday.

Rates for 30-year, fixed-rate mortgages slid from 3.57 percent with an average 0.8 point to 3.54 percent, Freddie Mac said.

Rates for 15-year contracts dropped from 2.76 percent to 2.74 percent with an average 0.7 point.

One point is equal to 1 percent of the amount of the loan and is typically paid up front. It includes a corresponding discount on the loan's long-term interest rates.

Interest rates for five-year adjustable rate mortgages fell to 2.65 percent with an average of 0.5 points from 2.68 percent.

One-year adjustable rate mortgages using 10-year bonds as a benchmark, averaged 2.63 percent with 0.4 point in the week, up from 2.62 percent in the previous week.

Related UPI Stories
Topics: Freddie Mac
Latest Headlines
Trending Stories
Police: 2 shot, 1 dead near Texas Southern University
Listeria threat prompts Whole Foods cheese recall
Russia says missiles aimed at Syria did not land in Iran
Captive orca breeding banned at California's SeaWorld
Wrong drug used in Oklahoma execution