30-year mortgage rate steady at 4.57 percent
By MARCY GORDON AP Business Writer on Sep 13, 2013, at 2:30 AM Updated on 9/13/13 at 7:06 AM
Real Estate
U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.
New home construction in the Tulsa region from January to August is outpacing last year's numbers, a continuation of the upward tick that started in 2012 following a six-year slide.
WASHINGTON (AP) - Average U.S. rates on fixed mortgages held steady this week, hovering near two-year highs. But rates could change quickly next week when the Federal Reserve addresses its bond purchase program.
Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan was unchanged from last week at 4.57 percent, just below the two-year high of 4.58 percent reached Aug. 22.
The average on the 15-year fixed mortgage held at 3.59 percent. The two-year high of 3.60 percent was hit Aug. 22.
Long-term mortgage rates have risen more than a full percentage point since May.
Original Print Headline: 30-Year Mortgage Rate At 4.57 Percent
Real Estate
U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.
New home construction in the Tulsa region from January to August is outpacing last year's numbers, a continuation of the upward tick that started in 2012 following a six-year slide.
