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Average rate on 30-year loan rises

By Associated Press

POSTED:
LAST UPDATED: 05:52 a.m. HST, Dec 19, 2013


WASHINGTON » Average U.S. rates for fixed mortgages rose slightly this week but remained near historically low levels.

Mortgage buyer Freddie Mac says the rate on the 30-year loan increased to 4.47 percent from 4.42 percent last week. The average on the 15-year fixed loan rose to 3.51 percent from 3.43 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 on starting to reduce its $85 billion-a month bond purchases. The Fed decided this week that the outlook for the economy appeared strong enough for it to reduce the monthly bond purchases starting in January by $10 billion.

The purchases are designed to keep long-term rates such as mortgage rates low.







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onevoice82 wrote:
Party is almost over. Expect rates to climb into the 5-6% range in 2014. Time to get off the fence and buy that home or build that addition you have been thinking about.
on December 19,2013 | 07:05AM
GONEGOLFIN wrote:
Agreed.
on December 19,2013 | 09:23AM
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