The national average contract mortgage rate was 4.55% for September loans.
October 28, 2010
The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less decreased 12 basis points (bp) to 4.58% in September. The average interest rate on 15-year, fixed-rate loans of $417,000 increased 11 bp to 4.57% in September.
This is the first drop in spending from the previous year since the U.S. Labor Bureau began publishing this data in 1984.
October 11, 2010
Mortgage interest payments and charges fell from $3,890 in 2007 to $3,594 in 2009, evidence of the higher than normal mortgage default rate, falling house prices, lower rates of homeownership, and declining mortgage interest rates over the period.
Credit unions hoping to get a firsthand--but safe--look at how a hacker might attempt to breach their systems can get just that at an upcoming symposium hosted by CUNA and National Association of State Credit Union Supervisors.
CUNA continues to have grave concerns with the Federal Accounting Standards Board credit impairment proposal, concerns it expressed in a letter to National Credit Union Administration Chair Debbie Matz Tuesday.