The rate for a 30-year fixed-rate mortgage averaged 3.43 percent this week, down from the previous week’s 3.45 percent, Freddie Mac said today. At this time last year, the 30-year FRM rate averaged 3.93 percent.
This week’s 15-year FRM averaged 2.74 percent, down from 2.76 percent last week. A year ago, the 15-year FRM averaged 3.15 percent.
Home purchase cancellations rose to 14.5% of pending sales in September, the highest rate on record outside the early months of the pandemic.
Consumer sentiment decreased 0.2% month-over-month in October to 48, and was down 10.4% from one year ago, according to final results of the University of Michigan Surveys of Consumers.
ABA joined state bankers associations in Illinois, Texas, California and Missouri in debuting ads thanking House lawmakers in each for supporting policies that help families and small businesses.
The 15-year fixed-rate mortgage also declined, to 6.68% from 6.71% last week, compared with 5.44% one year ago.
The convention will open with remarks from ABA President and CEO Rob Nichols, who will outline the association’s priorities for the year ahead and look ahead to the midterm election
The Treasury Department announced that the Financial Crimes Enforcement Network is investigating a Greek bank for alleged ties to Iran.
