Thursday, April 4, 2013

Rates fall



"Mortgage rates in the U.S. fell, decreasing borrowing costs as the housing market moves into its second year of recovery.

The average rate for a 30-year fixed mortgage was 3.54 percent in the week ended today, down from 3.57 percent, McLean, Virginia-based Freddie Mac (FMCC) said in a statement. The average 15- year rate slipped to 2.74 percent from 2.76 percent.

U.S. home prices rose 10.2 percent in February from a year earlier, the most since March 2006, Irvine, California-based CoreLogic Inc. said yesterday. It was the 12th consecutive month of year-over-year gains as low borrowing costs drove demand for a thin supply of homes."

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