Items Tagged with 'rate'

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Agency Releases Mortgage Rate Data

The national average contract mortgage rate was 4.55% for September loans.
The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less decreased 12 basis points (bp) to 4.58% in September. The average interest rate on 15-year, fixed-rate loans of $417,000 increased 11 bp to 4.57% in September.
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Pace of Recovery is Slowing

Household spending increases gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
Economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
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