Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Average October mortgage rate is 4.17 FHFA reports
WASHINGTON (11/23/11)--The average combined rate of both fixed- and adjustable-rate mortgages stood at 4.17% in October, a drop from the 4.36% average reported last month, the Federal Housing Finance Agency (FHFA) reported on Tuesday.

The agency said that initial fees and charges pushed this average to an effective rate of 4.29% for October. That rate represents a 20 basis point drop from September's total of 4.49%.
Click to view larger image Click for larger view


The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders was 4.19% last month, a 0.19% drop from September's total, and conventional, 30-year, fixed-rate mortgage loans of $417,000 or less averaged an interest rate of 4.36% in October, a 20 bp drop from the previous month's total, the FHFA said.

October's average loan-to-price ratio 78.4%, and the average loan amount was $218,500 during that month. Both of these numbers were consistent with the previous month's results.

The FHFA also reported the following:

  • Initial fees and charges accounted for 0.83% of loan balances in October; and
  • 28% of purchase-money mortgage loans originated in October were "no-point" mortgages.
For the full FHFA release, use the resource link.
Other Resources

RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
20 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
22 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
8 29 ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
8 29 ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
8 29 ago