49.3 F
Fort Worth
Sunday, November 29, 2020
Government Average mortgage rates climbed this week

Average mortgage rates climbed this week

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

WASHINGTON (AP) — Long-term U.S. mortgage rates increased this week, although they’re lower than a year ago.

Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year fixed-rate mortgages rose to 3.99 percent, up from 3.94 percent last week. That average marks a five-month high, but it’s still lower than the 4.32 percent a year ago. The rate on 15-year fixed-rate mortgages increased to an average 3.44 percent from 3.38 percent in the prior week. The 15-year averaged 3.55 percent a year ago.

The $1.5 trillion in tax cuts President Donald Trump signed into law last week led to an increase in the interest charged on a 10-year U.S. Treasury note. This increase — likely reflective of both the debt and potential stimulus from the tax cuts — pushed up average mortgage rates.

The relatively low rates have helped preserve a degree of affordability for many would-be homebuyers amid rising prices. Many potential buyers are finding it difficult to buy a home as the number of listings on the market had drifted down to record lows for November.

The average on five-year adjustable-rate mortgages rose to 3.47 percent from 3.39 percent last week. A year ago, the five-year adjustable rate averaged 3.30 percent.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

JRB Fort Worth chosen for main operating base for C-130J aircraft

Naval Air Station Joint Reserve Base Fort Worth has been selected as a main operating base for eight C-130J aircraft at the 136th Airlift...

Jacobs Engineering: Fiscal 4Q Earnings Snapshot

DALLAS (AP) _ Jacobs Engineering Group Inc. (J) on Tuesday reported fiscal fourth-quarter net income of $82 million.On a per-share basis, the Dallas-based company...

Tarrant County DA’s office changing how it handles misdemeanor marijuna cases

The Tarrant County Criminal District Attorney’s Office is changing how it handles misdemeanor marijuana cases. The Tarrant County  Criminal District Attorney’s Office on Monday, Nov....

Arlington selects new police chief from Baltimore department

Col. Al Jones, a 25-year veteran of the Baltimore County Police Department, has been appointed the new police chief of the the City of...

Arlington firm designing new hotel in Las Colinas

Arlington-based Type Six Design & Development has announced the firm has received zoning approval from the City of Irving for a new six-story Hotel...