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VOL. 127 | NO. 78 | Friday, April 20, 2012

30-Year Mortgage Rate Rises to 3.90 Pct.

By DEREK KRAVITZ

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WASHINGTON (AP) — The average rate on the 30-year fixed mortgage stayed near its lowest level on record, keeping home-buying and refinancing affordable.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan rose to 3.90 percent from 3.88 percent. The rate touched 3.87 percent in February, which was the lowest since long-term mortgages began in the 1950s.

The 30-year loan is the most common financing option for homebuyers.

The 15-year mortgage, which is popular with those refinancing, rose to 3.13 percent from 3.11 percent, an all-time low.

The average rates don’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.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 378 15,444
MORTGAGES 67 456 20,235
FORECLOSURE NOTICES 0 109 3,995
BUILDING PERMITS 0 872 36,714
BANKRUPTCIES 55 287 14,630
BUSINESS LICENSES 16 80 5,209
UTILITY CONNECTIONS 0 312 22,129
MARRIAGE LICENSES 0 83 4,746

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