MARKET NEWS: Fixed rates rose very slightly in the past week, but
stayed in the same range they have been for almost two months now.
Freddie Mac announced that for the week ending August 7, 30-year fixed
rates rose slightly to 4.14% from 4.12% the week before. The average for
15-year loans ticked up to 3.27%. Adjustables were also stable in the
past week but fell slightly with the average for one-year arm’s easing
to 2.35% and five-year adjustables decreasing marginally to 2.98%. A
year ago 30-year fixed rates were at 4.40%. Attributed to Frank Nothaft,
vice president and chief economist, Freddie Mac --"Rates on home loans
were little changed amid a week of light economic reports. Of the few
releases, the ISM non-manufacturing index rose to 58.7 in July from 56.0
a month earlier. Also, factory orders were up 1.1% in June. The two
reports signal steady economic growth in the third quarter of the year."
Rates indicated do not include fees and points and are provided for
evidence of trends only. They should not be used for comparison
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