US fixed mortgage rates remain unchanged
Quotes

US fixed mortgage rates remain unchanged

Last Updated: Friday, February 15, 2013, 16:19
 
 Comment 0
 
US fixed mortgage rates remain unchanged
Washington: US fixed mortgage rates remained unchanged this week and continued to support the housing recovery, according to the Primary Mortgage Market Survey released by Freddie Mac.

The mortgage giant said that 30-year fixed-rate mortgage (FRM) stayed at 3.53 percent in the week ending Feb 14, the same as last week. The 15-year FRM, a popular choice for those looking to refinance, was also unchanged from the previous week's figure of 2.77 percent, reported Xinhua.

Both were up slightly from the record lows of 3.31 percent and 2.63 percent, but remained at an affordable level for house buying and refinancing.

In addition, the five-year US Treasury-indexed hybrid adjustable-rate mortgage (ARM) rose to 2.64 percent, while the one-year Treasury-indexed ARM increased to 2.61 percent.

"Mortgage rates remain near record lows and continue to support housing demand, translating into a pick-up in home prices in most markets," said Frank Nothaft, vice president and chief economist of Freddie Mac.

Recent data indicate that the housing sector has become a bright spot in the US economy since home prices began to climb in 2012 following years of historic declines.
IANS



First Published: Friday, February 15, 2013, 16:19


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved