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4.12: Rates Persist in Narrow Range for 8th Straight Week

  • August 14, 2014

by UrbanTurf Staff

4.12: Rates Persist in Narrow Range for 8th Straight Week: Figure 1

On Thursday morning, Freddie Mac reported 4.12 percent with an average 0.6 point as the average on a 30-year fixed-rate mortgage, down slightly from last week.

This is the eighth week that rates have been hovering in a tight band between 4.12 and 4.15.

Freddie Mac’s Frank Nothaft suggested that the week’s nominal move was due to a lack of significant economic news for the market to react to.

“Mortgage rates were down slightly amid a week of light economic reports. Of the few releases, retail sales were virtually unchanged in July after a 0.2 percent increase in June, ending five months of increases. Excluding motor vehicles and parts, retail sales were up 0.1 percent last month.”

Here’s a look at the path of rates since January 2010:

4.12: Rates Persist in Narrow Range for 8th Straight Week: Figure 2

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: mortgage rates, freddie mac

This article originally published at http://dc.urbanturf.com/articles/blog/4.12_rates_persist_in_narrow_range_for_8th_straight_week/8871

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