facebook
twitter
search
search

Mortgage rates slide slightly

April 11, 2013 at 11:02 AM

WASHINGTON, April 11 (UPI) -- U.S. mortgage rates slipped for the second consecutive week, the Federal Home Loan Mortgage Corp. said Thursday.

Rates for 30-year, fixed-rate mortgages slid from 3.54 percent with an average 0.8 point to 3.43 percent, Freddie Mac said.

Rates for 15-year contracts dropped from 2.74 percent to 2.65 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 2.62 percent with an average of 0.5 points from 2.65 percent.

One-year adjustable rate mortgages using 10-year bonds as a benchmark averaged 2.62 percent with 0.3 point in the week, down from 2.63 percent in the previous week.

Related UPI Stories
Topics: Freddie Mac
Latest Headlines
Trending Stories
Ted Cruz campaign pulls ad featuring softcore porn actress
Report: Clinton Foundation subpoenaed by State Dept. watchdog over charity projects
Ruby Rose, Gigi Hadid react to Kanye West's lyric about Taylor Swift
Kristen Wiig impersonates Peyton Manning on 'The Tonight Show'
NYC police officer found guilty of manslaughter in Brooklyn stairway shooting