{"id":767,"date":"2013-09-27T13:08:16","date_gmt":"2013-09-27T13:08:16","guid":{"rendered":"http:\/\/www.fiberlitetech.com\/blog\/?p=767"},"modified":"2013-09-27T13:08:16","modified_gmt":"2013-09-27T13:08:16","slug":"mortgage-rates-move-lower-as-fed-delays-taper","status":"publish","type":"post","link":"https:\/\/www.fiberlitetech.com\/blog\/mortgage-rates-move-lower-as-fed-delays-taper\/","title":{"rendered":"Mortgage Rates Move Lower as Fed Delays Taper"},"content":{"rendered":"<p>Mortgage rates inched lower this week, following the Federal Reserve\u2019s recent announcement that it would delay tapering its bond buying program. Mortgage rates have climbed more than one percentage point since May when speculation began that the Fed would start winding down its $85 billion per month bond buying program, which had helped keep mortgage rates low.<\/p>\n<p>&#8220;Mortgage rates drifted downwards this week amid signs of a weakening economic recovery,\u201d says Frank Nothaft, Freddie Mac\u2019s chief economist. &#8220;This, in part, was why the Federal Reserve chose to maintain its MBS and bond-buying program. [The Fed] also cited the tightening of financial conditions observed in recent months, which in the case of the housing market means the rise in mortgage rates since May.&#8221;<\/p>\n<p>Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 19:<\/p>\n<ul>\n<li><strong>30-year \u00a0\u00a0\u00a0\u00a0 fixed-rate mortgages: <\/strong>averaged 4.50 percent, with an average 0.7 point,\u00a0dropping from last week\u2019s 4.57 percent average. Last year at this time,\u00a0\u00a0\u00a030-year fixed-rate mortgage averaged 3.49 percent.<\/li>\n<li><strong>15-year \u00a0\u00a0\u00a0\u00a0 fixed-rate mortgages: <\/strong>averaged 3.54 percent, with an average 0.7 point, dropping\u00a0from last week\u2019s 3.59 percent average. Last year at this time, 15 year\u00a0rates averaged 2.77 percent.<\/li>\n<li><strong>5-year \u00a0\u00a0\u00a0\u00a0 adjustable-rate mortgages: <\/strong>averaged 3.11 percent, with an average 0.5 point,\u00a0dropping from last week\u2019s 3.22 percent average. A year ago, 5-year ARMs\u00a0\u00a0\u00a0\u00a0averaged 2.76 percent.<\/li>\n<li><strong>1-year \u00a0\u00a0\u00a0\u00a0 ARMs: <\/strong>averaged \u00a0\u00a0\u00a0\u00a0 2.65 percent, with an average 0.4 point, dropping from last week\u2019s 2.67\u00a0percent average. A year ago, 1-year ARMs averaged 2.61 percent.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage rates inched lower this week, following the Federal Reserve\u2019s recent announcement that it would delay tapering its bond buying program. Mortgage rates have climbed more than one percentage point since May when speculation began that the Fed would start &hellip; <a class=\"more-link\" href=\"https:\/\/www.fiberlitetech.com\/blog\/mortgage-rates-move-lower-as-fed-delays-taper\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/posts\/767"}],"collection":[{"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/comments?post=767"}],"version-history":[{"count":2,"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/posts\/767\/revisions"}],"predecessor-version":[{"id":769,"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/posts\/767\/revisions\/769"}],"wp:attachment":[{"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/media?parent=767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/categories?post=767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiberlitetech.com\/blog\/wp-json\/wp\/v2\/tags?post=767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}