Sunday, March 1, 2015
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Average US 30-year mortgage rate falls to 4.14 percent

By
From page HSR2 | June 28, 2014 |

WASHINGTON — Average U.S. rates on fixed mortgages declined this week, hovering near historically low levels.

Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year loan eased to 4.14 percent from 4.17 percent last week. The average for the 15-year mortgage fell to 3.22 percent from 3.30 percent.

Rising prices and higher interest rates beginning in mid-2013 have made homes less affordable for would-be buyers. At the same time, a limited supply of homes is available to buy. Sales of new homes are running about half the rate of a healthy housing market.

Home prices rose in April from a year ago at the slowest pace in 13 months, reflecting the recent drop-off in sales, according to the latest Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday.

Mortgage rates are about a quarter of a percentage point higher than they were at the same time last year. The increase in rates over the past year or so was driven in part by speculation that the Federal Reserve would reduce its bond purchases, which have helped keep long-term interest rates low. Indeed, the Fed has announced five declines in its monthly bond purchases since December because the economy appears to be steadily healing. But the Fed has no plans to raise its benchmark short-term rate from record lows.

After the central bank ended a two-day policy meeting last week, Fed Chair Janet Yellen sent the message that the economy still isn’t healthy enough to grow at a consistently strong pace without the Fed’s help. Yellen said that despite a steadily improving job market and signs of creeping inflation, the Fed sees no need to raise short-term interest rates from record lows anytime soon.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage fell to 0.5 point from 0.6 point a week earlier. The fee for a 15-year loan was unchanged at 0.5 point.

The average rate on a one-year adjustable-rate loan slipped to 2.40 percent from 2.41 percent. The average fee remained at 0.4 point.

The average rate on a five-year adjustable mortgage fell to 2.98 percent from 3.00 percent. The fee declined to 0.3 point from 0.4 point.

 

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

Peace and patience: Quilters gear up for show

By Amy Maginnis-Honey | From Page: C1 | Gallery

 
School bands compete in Pageantry on Parade

By Susan Hiland | From Page: A1, 2 Comments | Gallery

 
Calling someone a ‘smoker’ is hilarious

By Brad Stanhope | From Page: A2

 
Conservancy plans next Quail Ridge Reserve walk

By Susan Hiland | From Page: A3

 
Police seek suspect in armed robbery

By Bill Hicks | From Page: A3, 3 Comments

4-H Presentation Day brings fun, education to Fairfield

By Susan Hiland | From Page: A3 | Gallery

 
The agony of the codling moth, ecstasy of worm-free apples

By Christine Macgenn | From Page: C4

 
What you eat can affect your medications

By Marilyn Ranson | From Page: C4

CAASC 18th Annual Chinese New Year and Scholarship Celebration

By Steve Reczkowski | From Page: A5 | Gallery

 
Rollover in Suisun City

By Aaron Rosenblatt | From Page: A5, 1 Comment | Gallery

State schedules ramp closure at freeway project site

By Kevin W. Green | From Page: A5

 
Appointments on tap for Board of Supervisors meet

By Kevin W. Green | From Page: A5

 
Tri-City NAACP honors community members at gala event

By Bill Hicks | From Page: A5 | Gallery

 
NY, SF town house prices through the roof

By Bud Stevenson | From Page: B7

 
Suisun City police log: Feb. 27, 2015

By Susan Hiland | From Page: A9

 
Fairfield police log: Feb. 27, 2015

By Susan Hiland | From Page: A9

Airmen with local ties finish basic training

By Nick DeCicco | From Page: B10

 
Force draws many from South, middle class

By Tom Philpott | From Page: B10

.

US / World

Christie to Calif. Republicans: No rush to pick 2016 nominee

By The Associated Press | From Page: A1

 
US missionary abducted in Nigeria is courageous, friends say

By The Associated Press | From Page: C3

Dress that ‘greatly resembles’ stolen Nyong’o gown found

By The Associated Press | From Page: A5

 
Weekend storm drops snow, rain, hail in California

By The Associated Press | From Page: A5

Churches, synagogues, mosques bear tough New England winter

By The Associated Press | From Page: A6

 
Hyundai recalls 263,000 cars due to power-steering problem

By The Associated Press | From Page: A10

 
Blind dog rescued after being lost for 2 weeks in the cold

By The Associated Press | From Page: A10

Details about proposed national monuments in California

By The Associated Press | From Page: A10

 
National monument supporters in California get antsy

By The Associated Press | From Page: A10, 1 Comment

US drone strike in Yemen kills 3 suspected al-Qaida fighters

By The Associated Press | From Page: A11

 
Greece will not seek another bailout, prime minister says

By The Associated Press | From Page: A11

Attacks kill 37 people in and north of Iraq’s capital

By The Associated Press | From Page: A11

 
Nemtsov a possible ‘sacrificial victim,’ investigators say

By The Associated Press | From Page: A12

.

Opinion

Editorial Cartoon: March 1, 2015

By Daily Republic Syndicated Content | From Page: A8

 
Sound off for March 1, 2015

By Daily Republic | From Page: A8

 
New school funding plan remains on bumpy path

By Dan Walters | From Page: A8

Even Gruber deserves a break sometimes

By Megan Mcardle | From Page: A8, 2 Comments

 
I might just vote for a Democrat next time around

By Letter to the Editor | From Page: A8, 8 Comments

Aging Fairfield housing agency faltering

By Letter to the Editor | From Page: A8

 
.

Living

Today in History: March 1, 2015

By The Associated Press | From Page: A2

 
Community Calendar: March 1, 2015

By Susan Hiland | From Page: A2

With numbers falling, Houston-area nuns’ future uncertain

By The Associated Press | From Page: C3

 
Horoscopes: March 1, 2015

By Holiday Mathis | From Page: C4

Kidney Walk participation helped give me a positive outlook on life

By Kathy Mitchell and Marcy Sugar | From Page: C4

 
.

Entertainment

Take a look – Dr. Seuss has a new book

By The Associated Press | From Page: C2

 
Publisher launches line of Warhol e-books

By The Associated Press | From Page: C2

Q&A: Opera star Deborah Voigt writes of turbulent life

By The Associated Press | From Page: C2Comments are off for this post

 
PUBLISHERS WEEKLY BEST-SELLERS

By The Associated Press | From Page: C2

Review: ‘The Girl on the Train’ has realistic plot

By The Associated Press | From Page: C2Comments are off for this post

 
TVGrid

By Daily Republic Syndicated Content | From Page: B11

.

Sports

Vikings girls looking for first section title

By Paul Farmer | From Page: B1 | Gallery

 
Local Report: Vaca’s Aquino wins Masters wrestling title

By Daily Republic staff | From Page: B1

Phegley hopes his style will catch on in Oakland

By The Associated Press | From Page: B1

 
A year after meeting Tiger, Indian golfer on the rise

By The Associated Press | From Page: B1

Jeff Gordon takes a final spin at track that meant so much

By The Associated Press | From Page: B1

 
Players’ union head: future spring games in Cuba possible

By The Associated Press | From Page: B2

Harrington takes 36-hole lead, then more rain in Florida

By The Associated Press | From Page: B2

 
Defending champ Federer beats Djokovic to retain Dubai title

By The Associated Press | From Page: B2

Safarova beats Azarenka to win the Qatar Open

By The Associated Press | From Page: B2

 
Environmental activists disrupt meeting by Olympic officials

By The Associated Press | From Page: B2

Hamilton hones Mercedes with fastest time at F1 testing

By The Associated Press | From Page: B2

 
Thunder’s Russell Westbrook has surgery on cheekbone

By The Associated Press | From Page: B2

Anthony Mason, rugged forward of 1990s Knicks, dies at 48

By The Associated Press | From Page: B2

 
Warriors center Festus Ezeli suspended for a game

By The Associated Press | From Page: B2

Reichelt leads Austrian World Cup downhill sweep

By The Associated Press | From Page: B2

 
Harvick wins Xfinity race at Atlanta for 3rd year in a row

By The Associated Press | From Page: B4

Stolen No. 44 NASCAR race car found in suburban Atlanta

By The Associated Press | From Page: B4

 
.

Business

Fruits and vegetables get a star-studded marketing push

By The Associated Press | From Page: B7

 
For many in US, cash saved at gas pump is staying in pockets

By The Associated Press | From Page: B7

Nevada casinos keep $953.7 million in winnings in January

By The Associated Press | From Page: B8

 
Historic snows causing headaches for real estate industry

By The Associated Press | From Page: B8

Boy, 13, builds Braille printer with Legos, starts company

By The Associated Press | From Page: B9Comments are off for this post

 
Recalls this week: hand trucks, ceiling fans

By The Associated Press | From Page: B9

Review: Freedom! These smartwatches leave the phone behind

By The Associated Press | From Page: B9

 
Greek prime minister rules out third bailout

By The Associated Press | From Page: B9

AP Exclusive: Fuel-hauling trains could derail at 10 a year

By The Associated Press | From Page: B12 | Gallery

 
.

Obituaries

John W. Van Wart

By Nancy Green | From Page: A4

 
Virgil Albert Hanson

By Susan Hiland | From Page: A4

Thomas Browning

By Nancy Green | From Page: A4, 1 Comment

 
Leah E. Hoffman

By Nancy Green | From Page: A4

.

Comics