UCONN Home Refinance To A Low Rate
 
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Industry News

A year ago, the 15-year FRM averaged 3.37 percent. The average variable rate on home equity lines of credit (HELOC) rose to 4.74 percent, barely up from 4.73 percent last week. In a bold move to prime the economic pump for a stronger recovery, the Federal Reserve today agreed to purchase an additional $40 billion in mortgage-backed securities. However, the rate was up from refinance to a low rate 3.08 percent a year ago.

The average rate for the 15-year FRM, 3.36 percent, was down to its lowest point in months, from 3.45 percent last week. Although consumer spending rose 0.4 percent in July, representing the largest gain in five months, the core price index was unchanged suggesting little threat of inflation.

The average FRM rate on 15-year home equity loans for the week ending Sept. The average interest rate on the 30-year fixed-rate mortgage (FRM) was 3.66 percent for the week ending Aug.

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