Rate on 30-year mortgage at 2-year high - KPLC 7 News, Lake Charles, Louisiana

Rate on 30-year mortgage at 2-year high

(SOURCE: MGN Online) (SOURCE: MGN Online)

WASHINGTON (AP) - The average U.S. rate on the 30-year fixed mortgage rose this week to 4.51 percent, a two-year high. Rates have been rising on expectations that the Federal Reserve will slow its bond purchases this year.
    
Mortgage buyer Freddie Mac says the average on the 30-year loan jumped from 4.29 percent the previous week. Just two months ago, it was 3.35 percent - barely above the record low of 3.31 percent.
    
The average on the 15-year fixed mortgage rose to 3.53 percent from 3.39 percent last week. That's the highest since August 2011.
    
Chairman Ben Bernanke has said the Fed could slow its bond purchases this year if the economy strengthens. The purchases have kept rates low. The yield on the 10-year Treasury, which mortgage rates typically track, has been rising.

Copyright 2013 The Associated Press. All rights reserved.

  • More Local NewsNewsMore>>

  • AG: Beware of fake tobacco settlement scam

    AG: Beware of fake tobacco settlement scam

    Tuesday, July 25 2017 6:17 PM EDT2017-07-25 22:17:46 GMT
    (Source: Candy Rodriguez/KPLC)(Source: Candy Rodriguez/KPLC)

    When you visit the website, moneymapupdates.com it claims you can receive around $2,300 every month for the rest of your life. It seems too good to be true. That's because it is. Because in order to start receiving payments you need to sign up through the website by providing your personal and credit card information. "That's a red flag right there," said Carmen Million, president of the Southwest Louisiana Better Business Bureau. "They're using half-truths...

    More >>

    When you visit the website, moneymapupdates.com it claims you can receive around $2,300 every month for the rest of your life. It seems too good to be true. That's because it is. Because in order to start receiving payments you need to sign up through the website by providing your personal and credit card information. "That's a red flag right there," said Carmen Million, president of the Southwest Louisiana Better Business Bureau. "They're using half-truths...

    More >>
  • Calcasieu Parish School Board continues free meal program

    Calcasieu Parish School Board continues free meal program

    Tuesday, July 25 2017 6:10 PM EDT2017-07-25 22:10:59 GMT
    (Source: Calcasieu Parish School Board)(Source: Calcasieu Parish School Board)

    The Calcasieu parish school board has been offering the Community Eligibility Provision Program for four years. This year, adding Westwood Elementary to the ever-growing list. It makes sure students in high poverty schools receive a healthy breakfast and lunch during the school day. The Director of School Nutrition Programs, Jaqueline Richard, says this has been a successful program over the years. “It’s a great program for students and families who struggle to have a nu...

    More >>

    The Calcasieu parish school board has been offering the Community Eligibility Provision Program for four years. This year, adding Westwood Elementary to the ever-growing list. It makes sure students in high poverty schools receive a healthy breakfast and lunch during the school day. The Director of School Nutrition Programs, Jaqueline Richard, says this has been a successful program over the years. “It’s a great program for students and families who struggle to have a nu...

    More >>
  • FIRST ALERT FORECAST: Sunny and hot weather expected the rest of the week

    FIRST ALERT FORECAST: Sunny and hot weather expected the rest of the week

    Tuesday, July 25 2017 4:50 PM EDT2017-07-25 20:50:41 GMT
    Hot and dry weather aheadHot and dry weather ahead

    An upper level disturbance passed over Southwest Louisiana Tuesday and that kept clouds around the area and even a few sprinkles during the morning.  But as expected, rain was very limited and that will remain true for the rest of the week.  Temperatures were held a few degrees cooler during the afternoon due to the clouds, but it was still rather warm with most areas reaching the low 90s. 

    More >>

    An upper level disturbance passed over Southwest Louisiana Tuesday and that kept clouds around the area and even a few sprinkles during the morning.  But as expected, rain was very limited and that will remain true for the rest of the week.  Temperatures were held a few degrees cooler during the afternoon due to the clouds, but it was still rather warm with most areas reaching the low 90s. 

    More >>
Powered by Frankly