Sunday, April 20, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

US rate on 30-year mortgage rises to 3.40 pct.

WASHINGTON — Average U.S. rates on fixed mortgages rose this week but remained close to record lows. Cheap mortgages have made home buying more affordable and helped drive a housing recovery.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan increased to 3.40 percent from 3.34 percent last week. That’s still near the 3.31 percent rate reached in November, the lowest on records dating to 1971.

The average on the 15-year fixed mortgage increased to 2.66 percent from 2.64 percent last week. The record low is 2.63 percent.

Mortgage rates tend to track the yield on the 10-year Treasury note. The yield on the note has risen this year from 1.70 percent to 1.89 percent Thursday.

A deal between Congress and the White House to avoid sharp tax increases and a mildly positive employment report for December led investors last week to buy stocks and sell Treasurys. As demand for Treasurys declines, the yield increases.

Even with the increase, mortgage rates are hovering near historic lows. The 30-year fixed mortgage rate averaged 3.66 percent in 2012, the lowest annual average in 65 years, according to Freddie Mac.

Cheaper mortgages are a key reason the housing market began to come back last year. Many economists predict the housing recovery will strengthen in 2013.

Home prices are steadily increasing, which makes consumers feel wealthier and more likely to spend.

Another reason for the housing rebound is that there aren’t enough houses for sale. A limited supply has created demand for new construction, which has made builders more confident.

Lower mortgage rates also have persuaded more people to refinance. That typically leads to lower monthlymortgage payments and more spending. Consumer spending drives nearly 70 percent of economic activity.

Still, the housing market has a long way to a full recovery. And many people are unable to take advantage of the low rates, either because they can’t qualify for stricter lending rules or they lack the money to meet larger down payment requirements.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of 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 30-year loans was unchanged at 0.7 point. The fee for 15-year loans ticked up to 0.7 from 0.6 point.

The average rate on a one-year adjustable-rate mortgage rose to 2.60 percent from 2.57 percent. The fee for one-year adjustable-rate loans edged up to 0.5 from 0.4 point.

The average rate on a five-year adjustable-rate mortgage declined to 2.67 percent from 2.71 percent last week. The fee was steady at 0.6 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

Supervisor candidates vary on Plan Bay Area

By Barry Eberling | From Page: A1, 15 Comments | Gallery

 
Earth Day means cleanup Day for Suisun City

By Susan Hiland | From Page: A1, 5 Comments | Gallery

Hop to it: Couple lights up home, yard for Easter

By Amy Maginnis-Honey | From Page: C1

 
Bay Area makes growth plans

By Barry Eberling | From Page: A1, 2 Comments

Ranking the best Bay Area athletes

By Brad Stanhope | From Page: A2

 
The Edge hosts Easter egg hunt

By Adrienne Harris | From Page: A3

Alooma Temple keeps children in mind

By Adrienne Harris | From Page: A3 | Gallery

 
Fairfield author to speak at women’s expo

By Susan Hiland | From Page: A3

Piano scholarship competition set in Vallejo

By Susan Hiland | From Page: A3

 
The resurrection has changed the lives of Christians

By Perry W. Polk | From Page: C3

 
Armijo graduate completes basic training

By Nick DeCicco | From Page: C4

 
Understanding your health insurance

By Morgan Westfall | From Page: D4, 1 Comment

 
Record Store Day a commercial hit

By Adrienne Harris | From Page: A5 | Gallery

Easter egg hunt brings out the smiles

By Susan Hiland | From Page: A5, 2 Comments | Gallery

 
Dutch Bros. joins Fairfield coffee corridor

By Barry Eberling | From Page: B7, 7 Comments | Gallery

City sets plan to dispose of property assets

By Brian Miller and Karl Dumas | From Page: B7, 1 Comment

 
Fairfield police log: April 17, 2014

By Susan Hiland | From Page: A12

Suisun City police log: April 17, 2014

By Susan Hiland | From Page: A12

 
.

US / World

Counties tell Brown they need money for his law

By The Associated Press | From Page: A1, 1 Comment

 
San Francisco probe leading to entrapment claims

By The Associated Press | From Page: A6

Exhibit recreates Warhol’s 1964 World’s Fair mural

By The Associated Press | From Page: A10

 
NASA’s space station Robonaut finally getting legs

By The Associated Press | From Page: A10 | Gallery

Ohio couple married 70 years die 15 hours apart

By The Associated Press | From Page: A11 | Gallery

 
Documents detail another delayed GM recall

By The Associated Press | From Page: A11, 1 Comment

At barricades, Ukraine insurgents await Easter

By The Associated Press | From Page: A13

 
Official: 3 bodies retrieved from inside ferry

By The Associated Press | From Page: A13 | Gallery

13th body pulled from snow in Everest avalanche

By The Associated Press | From Page: A13

 
Costa Rican a celebrity after certified miracle

By The Associated Press | From Page: A14 | Gallery

.

Opinion

Government … for the government?

By Bill James | From Page: A8, 9 Comments

 
Editorial Cartoons for April 20, 2014

By Daily Republic Syndicated Content | From Page: A8

Question of the week: Will Flight 370 be found?

By Daily Republic | From Page: A8

 
Neighborhood speeders don’t get it

By Letter to the Editor | From Page: A8, 7 Comments

 
Why would a person do this?

By Letter to the Editor | From Page: A8, 3 Comments

Sound off for April 20, 2014

By Daily Republic | From Page: A8, 1 Comment

 
Jeb Bush, love, and today’s GOP

By Ruben Navarrette | From Page: A9, 1 Comment

 
 
.

Living

Today in History for April 20, 2014

By The Associated Press | From Page: A2

 
Community Calendar: April 20, 2014

By Susan Hiland | From Page: A2

Bill Nye says he underestimated debate’s impact

By The Associated Press | From Page: C3, 10 Comments

 
Book details lives of cloistered nuns

By The Associated Press | From Page: C3

Horoscopes for April 20, 2014

By Holiday Mathis | From Page: D4

 
Pete spends weekends at my house but he never invites me to his

By Kathy Mitchell and Marcy Sugar | From Page: D4

.

Entertainment

Flea of Red Hot Chili Peppers has book deal

By The Associated Press | From Page: C2

 
Tartt, Goodwin finalists for Carnegie medals

By The Associated Press | From Page: C2

New book on fracking illuminates pros, cons

By The Associated Press | From Page: C2

 
PUBLISHERS WEEKLY BEST-SELLERS

By The Associated Press | From Page: C2

TVGrid

By Daily Republic Syndicated Content | From Page: B11

 
.

Sports

A’s score 3 in 9th, rally past Astros 4-3

By The Associated Press | From Page: B1 | Gallery

 
Warriors beat Clippers 109-105 in playoff opener

By The Associated Press | From Page: B1 | Gallery

 
Kings, Sharks look to put Game 1 in past

By The Associated Press | From Page: B1 | Gallery

Stults, Padres hand Giants third straight loss

By The Associated Press | From Page: B1

 
Calathes suspension a reminder of supplement risk

By The Associated Press | From Page: B2

Raptors GM Ujiri uses profanity about Brooklyn

By The Associated Press | From Page: B2

 
Williams scores 24 as Nets beat Raptors 94-87

By The Associated Press | From Page: B2 | Gallery

Durant leads Thunder past Grizzlies 100-86

By The Associated Press | From Page: B2

 
Hawks take 1-0 lead by rolling past Pacers 101-93

By The Associated Press | From Page: B2

Federer beats injured Djokovic to reach final

By The Associated Press | From Page: B3 | Gallery

 
Indians set two new school records for track

By Daily Republic staff | From Page: B4

Wie shoots 67, wins LPGA LOTTE Championship

By The Associated Press | From Page: B4

 
Rapids, Earthquakes play to scoreless tie

By The Associated Press | From Page: B4

Travis Bowl Highlights

By Daily Republic | From Page: B4

 
Jimenez leads Langer by 1 shot in Greater Gwinnett

By The Associated Press | From Page: B4

Stars Recreation bowling results

By Daily Republic | From Page: B4

 
Donald shoots 66, takes lead at RBC Heritage

By The Associated Press | From Page: B4

Big names among prospective Buffalo Bills buyers

By The Associated Press | From Page: B4

 
Award-winning archery champ shoots with his teeth

By The Associated Press | From Page: B6 | Gallery

Survivors keep busy as Boston Marathon approaches

By The Associated Press | From Page: B6

 
.

Business

US delays review of contentious Keystone pipeline

By The Associated Press | From Page: B7

 
Why high oil prices are actually good for airlines

By The Associated Press | From Page: B7

Subscription sample boxes shake up beauty routines

By The Associated Press | From Page: B8

 
Girls from modest families get lift in technology

By The Associated Press | From Page: B12

Haunted house part of San Antonio apartment lofts

By The Associated Press | From Page: B13

 
Recalls this week: lanterns, exercise devices

By The Associated Press | From Page: B13

Review: Siri-like Cortana fills Windows phone gap

By The Associated Press | From Page: B14

 
.

Obituaries

Margaret Elizabeth Silva

By Susan Hiland | From Page: A4

 
Lloyd G. Hoffmeister

By Nancy Green | From Page: A4

Ramon Isidro

By Adrienne Harris | From Page: A4

 
Rogelio Tinoco-Zamudio

By Susan Hiland | From Page: A4

James Leroy Barbour

By Nancy Green | From Page: A4

 
William Paul Wehrly

By Nancy Green | From Page: A4

Sealwyn Shirley Brucefield Shepherd Malkiewicz

By Nancy Green | From Page: A4

 
.

Comics