News Summary: US rate on 30-year mortgage 4.28 pct

Posted at: 10/17/2013 11:35 AM
By The Associated Press

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RATES RISE SLIGHTLY: Average U.S. rates on fixed mortgages rose slightly this week, staying near three-month lows.

THE NUMBERS: Mortgage buyer Freddie Mac says the average on the 30-year loan increased to 4.28 percent from 4.23 percent last week. The average on the 15-year fixed loan edged up to 3.33 percent from 3.31 percent.

OUTLOOK: Mortgage rates began falling last month after the Federal Reserve held off slowing its $85-billion-a-month in bond purchases. Rates could fall even lower now that lawmakers reached a deal to avert a possible government debt default and reopen the federal government.

(Copyright 2013 by The Associated Press. All Rights Reserved.)



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