Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

30-year mortgage rate ticks higher to 4.00%

30-year mortgage rate ticks higher to 4.00% (by Ruth Mantell)

WASHINGTON (MarketWatch) -- Fixed mortgage rates ticked higher in the latest week, Freddie Mac said Thursday, noting recent positive data on spending and consumer confidence. The average rate on the 30-year fixed-rate mortgage rose to 4.00% in the week ending Nov. 17, compared with 3.99% in the prior week. "Mortgage rates were little changed this week just as the economy is showing potential for further gains in the near term," said Frank Nothaft, Freddie Mac's chief economist, in a statement. A year ago, the 30-year rate was at 4.39%, according to the buyer of residential mortgages. To obtain the latest rate, payment of an average 0.7 point was required. A point is 1% of the mortgage amount, charged in prepaid interest. The average rate on the 15-year fixed-rate mortgage increased to 3.31% in the latest week from 3.30% in the prior week. Meanwhile, the 5-year Treasury-indexed hybrid adjustable-rate mortgage ticked down to 2.97% from 2.98%. The 1-year Treasury-indexed ARM increased to 2.98% from 2.95%.