Menu
Construction and real estate
Homebuilders' Confidence Strongest in More Than 7 Years
Rate on 30-Year Mortgage Falls to 4.37%
Home Sales Slow in June
Sales of New Homes Rise to 5-Year High as Prices Soar
Average Rate on 30-Year Mortgage Slips to 4.31%
Renters Now Able to Afford More, Report Says
Today's Housing Market Making It Extra Tough on First-Time Homebuyers
Pending Sales of U.S. Homes Slip From 6-Year High
Home Prices Heat Up in May as Pace of Gains Cools
Demand for Mortgages Falls as Rates Remain Unchanged
Mortgage Rates Tick Up, Despite Fed Assurances on Stimulus
Good News for Homeowners: Fewer Foreclosures in June
Improving Market Pushes Home Prices Higher in June
Mortgage Rates Could Rise Should Fannie, Freddie Shut Down
Towns Where Housing Markets Are Turning Around
Freddie Mac 2Q Earnings Surge as Housing Market Improves
Homebuyers Get a Break as Mortgage Rates Edge Down
Tech Rebound Lifts Silicon Valley Home Prices to New Heights
Home Foreclosures on Track to End 2013 at 6-Year Low
Homebuyers in Luck as Mortgage Rates Remain Steady
Housing Recovery's Next Hot Spots
House of the Week: Los Angeles’ Petal House
Former Maroon 5 Drummer Ryan Dusick Buys Tarzana Home
Versace Mansion Goes to Bankruptcy Auction
Average Rate on 30-Year Mortgage Slips to 4.31%
WASHINGTON - Average rates on U.S. fixed mortgages fell for the second straight week, a welcome sign for homebuyers hoping to lock in lower rates that had spiked earlier this month.

Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan fell to 4.31 percent. That's down from 4.37 percent last week but nearly a full percentage point higher than in early May. The rate reached a two-year high of 4.51 percent two weeks ago.

The average on the 15-year fixed loan declined to 3.39 percent, down from 3.41 percent last week

While rates remain low by historical standards, they have risen in recent weeks after the Federal Reserve indicated it might slow its bond purchases later this year. The $85-million-a-month in bond purchases have kept long-term interest rates low, encouraging more borrowing and spending.


Mortgage rates tend to follow the yield on the 10-year Treasury note, which rose sharply after Chairman Ben Bernanke said the Fed might reduce its bond-buying program. But the yield has since stabilized after Bernanke and other members emphasized that any change in the bond purchases would be tied to the economy's health -- not a calendar date.

Further, Bernanke said the Fed would likely continue other low-interest rate policies for the foreseeable future because unemployment remains high and inflation low.

Low mortgage rates have contributed to a housing recovery that has helped drive economic growth this year.

Greater demand, along with a tight supply of homes for sale, has pushed up home prices. It also has led to more home construction, which has created more jobs.

This week the government said sales of new homes rose 8.3 percent to a seasonally adjusted annual rate of 497,000, the highest since May 2008.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country Monday through Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was 0.8 point this week, up from 0.7 point last week. The fee for a 15-year loan also rose to 0.8 point from 0.7 point.

The average rate on a one-year adjustable-rate mortgage fell to 2.65 percent from 2.66 percent. The fee was unchanged at 0.4 point.

The average rate on a five-year adjustable mortgage eased to 3.16 percent from 3.17 percent. The fee rose to 0.7 point from 0.6.
Shakira’s Miami Home for Sale
Update: $2M Price Jump on Ellen & Portia’s Thousand Oaks Ranch
House of the Week: Babe Ruth’s ‘Home Plate Farm’ in Sudbury, MA
Pamela Anderson’s Malibu Home Returns to the Rental Market
Investing in Real Estate With Cash? Why You Might Want to Reconsider
Steve McQueen’s Former Idaho Ranch for Sale
Is Homeownership Still the American Dream?
5 August ‘Must Do’ Projects From Bob Vila
For Rent: ‘Superbad’ Producer Evan Goldberg’s Home
Mark Hoppus Renting Out Beverly Hills Home While Living in London
Luxury Meets Sustainability in Seattle’s First Certified ‘Passive House’ Zillow
‘Workaholics’ Star Blake Anderson Buys Rob Dyrdek’s Hollywood Hills Home
For Sale: ‘Jeopardy!’ Host Alex Trebek’s Former Home
Flip the Switch on Better Kitchen Lighting
For Sale: Bel-Air Home Leased by Latin Music Star Luis Miguel
Oh Yeah. Iconic ‘Ferris Bueller’ Home Back on the Market
House of the Week: DC Mansion Occupied by President Calvin Coolidge
Dallas Cowboys’ Orlando Scandrick Lists Hollywood Hills Home
Live Like a QB: Kurt Warner’s Former Home for Rent
Steven Hilton Relists Malibu Home for $2.695 Million
Robert Redford’s Former Malibu Home Hits the Market for $15 Million
Celebrity Hairstylist Sally Hershberger’s Beverly Hills Home for Sale
Buy Taylor Swift’s Childhood Home in PA for $799,500
Choosing the Best Refrigerator for Your Home
House of the Week: Nabisco Ovens Turned Penthouse
‘Star Trek’ Commander and ‘General Hospital’ Star Buy in Woodland Hills
No Painting Allowed! 6 Tricks for Adding Color When Living With White Walls
Turnkey mansion for sale, Bentley and toilet brushes included
Menu
‘Sons of Anarchy’ Star Buys Woodland Hills Home
What Really Influences Your Credit Score?
Why This May Not Be the Best Time to Buy a Home … For You
Country Star Ronnie Dunn Buys in Nashville
Sold: Goldie Hawn & Kurt Russell’s Malibu Home
David Spade’s Malibu Home Sells for $10.225 Million
Shoe Designer Vince Camuto Lists Historic Hamptons Estate
‘Flipping Out’ Designer Jeff Lewis Lists Los Feliz Home
Michael Jackson Producer Brian Malouf Lists Sherman Oaks Home
Most Expensive House in Orange County Hits Market at $65 Million
Richard Gere Lists $65 Million Hamptons Estate
Ryan Reynolds Relists Hollywood Hills Home
Malcolm Forbes’ NJ Estate Listed for $3.4 Million
‘Without a Trace’ Star Enrique Murciano Sells Home
Tennis Great John McEnroe Buys Another Malibu Home
Producer Antonio ‘L.A.’ Reid Lists Hamptons Estate for $18.9 Million
House of the Week: Former Jail Turned Residence for Sale
Housing by the Numbers
Report: Miami Heat’s Shane Battier Buys Coral Gables Home for $3.2 Million
Chicago Property Once Part of Original Playboy Mansion for Sale
How to Fix a Running Toilet
Home of Michael Clarke Duncan Listed for $1.299 Million
What Is a Home Warranty, and Do You Need One?
Linkin Park’s Joe Hahn Relists Brentwood Home