The Federal Housing Finance Agency's index showed a decrease in average contract interest rates for home loans in Denver and other areas all over the country for November. Compared to the national data for October, the November rate marked a 0.10% decrease on the composite of all mortgage loans.
As posted in an official news release by the agency on their website:
According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.21 percent for loans closed in late November. The index is calculated using FHFA’s Monthly Interest Rate Survey. The contract rate on the composite of all mortgage loans was 4.22 percent, down 10 basis points from 4.32 in October.
There are several factors that affect interest rates, including demand from consumers, the Federal Reserve policy, and inflation.
http://www.thehomeloanarranger.com/fhfa-index-shows-decrease-interest-rates-home-loans-denver/
Tuesday, January 14, 2014
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