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.
Household spending increases gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
October 4, 2010
Economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
For credit unions, the Electronic Signatures in Global and National Commerce Act of 2000 means information required to be made available can be delivered electronically, as long as the credit union complies with its requirements.
There's still time to register for Tuesday's free Member Activation Program webinar for MAP credit unions and those who want to learn more about MAP, which will include an update on CUNA’s Campaign for Common-Sense Regulation.