US mortgage rates are starting to crawl back up after falling to 14-month lows.
Points are fees paid to a lender equal to one per cent of the loan amount and are in addition to the interest rate.The 15-year fixed-rate average also moved higher to 3.6 per cent with an average 0.4 point. It was 3.56 per cent a week ago and 3.87 per cent a year ago. It was 3.66 per cent a week ago and 3.61 per cent a year ago.
Friday's employment report showed wage growth had slowed. The consumer price index for March, which was released this week, saw its biggest jump in 14 months, but core CPI fell to its lowest level in a year. Bankrate.com, which puts out a weekly mortgage rate trend index, found that nearly two-thirds of the experts it surveyed say rates will remain relatively stable in the coming week.
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Source: IndependentSG - 🏆 2. / 72 Read more »