News Column

BRIEF: 30-year fixed mortgage rate hits lowest point this year

August 21, 2014

By Samantha Bomkamp, Chicago Tribune

Aug. 21--The average rate on a 30-year fixed-rate mortgage hit its lowest point this year following a jump in new home construction, lender Freddie Mac said Thursday.

The 30-year fixed rate averaged 4.10 percent this week, down from last week's average of 4.12 percent. A year ago, the rate averaged 4.58 percent.

The rate on a 15-year fixed-rate mortgage averaged 3.23 percent, down from 3.24 percent last week. The rate averaged 3.60 percent a year ago.

In addition to a 15.7 percent increase in housing starts, a decline in Treasury yields and a slowing pace of consumer price increases helped keep rates low, according to Freddie Mac's Chief Economist Freddie Mac.

Follow @samwilltravel Follow @chibreakingbiz


(c)2014 the Chicago Tribune

Visit the Chicago Tribune at

Distributed by MCT Information Services

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Chicago Tribune (IL)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters