Mortgage rates rise slightly to 4.33% | South Salem NY Homes
Average U.S. rates on fixed mortgages rose this week with the spring home-buying season beginning. Mortgage buyer Freddie Mac says the average rate for the 30-year loan rose to 4.33 percent from 4.27 percent last week. The average for the 15-year mortgage increased to 3.39 percent from 3.33 percent. Mortgage rates have risen almost a full percentage point since hitting record lows about a year ago. Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers. Sales of new homes fell 14.5 percent in March to a seasonally adjusted annual rate of 384,000, the Commerce Department said Wednesday. Purchases of existing homes also declined last month, the National Association of Realtors said Tuesday. read more.... http://www.foxnews.com/us/2014/04/24/average-us-rate-on-30-year-mortgage-rises-to-433-pct-15-year-loan-increases-to/
