Average rate on 30-year mortgage slips to 4.41 percent

WASHINGTON >> Average U.S. rates for fixed mortgages declined this week, edging closer to historically low levels. Mortgage buyer Freddie Mac says the average for the 30-year loan fell to 4.41 percent from 4.51 percent last week. The average for the 15-year loan eased to 3.45 percent from 3.56 percent.

Mortgage rates have risen about a full percentage point since hitting record lows a year ago. The increase was driven by speculation that the Federal Reserve would reduce its bond purchases. The Fed determined last month that the economy was strong enough to start trimming those purchases, which have kept long-term interest rates low. The rise in mortgage rates slowed home sales, which have fallen for three straight months. But overall, 2013 was the best year for housing since the financial crisis.
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Associated Press

ON THE MOVE

Anthology Marketing Group has appointed:

» Jackie Jaques-Smythe to vice president of account management. Prior to Anthology, she served as a senior vice president at Communications Pacific.

» John Itamura to vice president of field services. He has more than 27 years of experience in Hawaii’s marketing and polling research in director or senior management services, including serving as president of FAQ Hawaii, a market research firm.

The American Institute of Architects Honolulu Chapter has announced John Ida as its president. He is the president and founding partner of Urban Works and has more than 40 years of experience in the design and management of planning architectural and interior design projects for private and public clients.

SHIP AHOY!

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