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
Rate on 30-Year Mortgage Falls to 4.37%
WASHINGTON -- Average rates on U.S. fixed mortgages declined this week as concern waned in the financial markets over the Federal Reserve's possible slowing of its bond purchases this year.

Mortgage buyer Freddie Mac said Thursday the average on the 30-year loan slipped to 4.37 percent. That's down from 4.51 percent last week but is still near the highest level in nearly two years.

Just two months ago the rate was 3.35 percent, barely above the record low of 3.31 percent. Rates had surged in recent weeks amid concern over the Fed's bond purchases, which have kept interest rates low.

The average on the 15-year mortgage fell to 3.41 percent from 3.53 percent last week.

Chairman Ben Bernanke said last week the Fed will continue to stimulate the economy, even after it begins to slow the bond purchases.

Even with the recent gains, mortgage rates remain low by historical standards. Low rates have helped fuel a housing recovery that is helping to 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.

The Commerce Department reported Wednesday that U.S. builders started work on fewer homes in June, mostly because apartment construction fell sharply. But applications for permits to build single-family houses rose to the highest level in five years, suggesting the housing recovery will continue.


The yield on the 10-year Treasury note, which mortgage rates typically track, fell Wednesday to 2.49 percent from 2.53 percent as investors bought U.S. government bonds following comments by Bernanke in his appearance before a U.S. House committee. He said the central bank had no firm timetable for cutting back on its bond purchases. The Fed would consider reducing its stimulus program if the economy improves, Bernanke said, but he stressed that the reductions were "by no means on a preset course."

The yield on the 10-year note edged up to 2.52 percent Thursday morning.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on 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 0.7 point this week, down from 0.8 point last week. The fee for a 15-year loan also slipped to 0.7 point from 0.8 point.

The average rate on a one-year adjustable-rate mortgage was unchanged at 2.66 percent. The fee declined to 0.4 point from 0.5.

The average rate on a five-year adjustable mortgage fell to 3.17 percent from 3.26 percent. The fee eased to 0.6 point from 0.7.
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