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Rate on 30-year loan eases slightly

By Associated Press

POSTED:
LAST UPDATED: 05:34 a.m. HST, Dec 12, 2013

Island Sotheby's International RealtyResidential real estate sales are up at Hawaii resorts this year through June, according to a new report. Among those sales was one oceanfront condominium unit in the Coconut Grove community at Kapa­lua Resort on Maui, pictured, that sold for $4.25 million.

WASHINGTON » Average U.S. rates for fixed mortgages eased slightly this week, remaining near historically low levels.

Mortgage buyer Freddie Mac says the rate on the 30-year loan declined to 4.42 percent from 4.46 percent last week. The average on the 15-year fixed loan dipped to 3.43 percent from 3.47 percent.

Mortgage rates peaked at 4.6 percent in August and have stabilized since September, when the Federal Reserve surprised markets by taking no action. The Fed meets next week and could slow the bond purchases if the economy shows further improvement.

The bond purchases are designed to keep long-term rates low.

A government report issued today signaled growing consumer confidence in the economy at the start of the holiday shopping season, as November retail sales marked the biggest gain in five months.






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