» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 78 | Friday, April 20, 2012

30-Year Mortgage Rate Rises to 3.90 Pct.

By DEREK KRAVITZ

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 376 10,434
MORTGAGES 124 449 13,881
FORECLOSURE NOTICES 14 56 2,766
BUILDING PERMITS 196 798 23,420
BANKRUPTCIES 68 264 8,803
BUSINESS LICENSES 24 77 3,613
UTILITY CONNECTIONS 251 637 13,380
MARRIAGE LICENSES 21 93 3,117

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.