News Summary: US 30-year loan rate near record low

AP News
Posted: Dec 06, 2012 10:55 AM

RATES STAY LOW: Average U.S. rates on fixed mortgages ticked up this week to just slightly above their record lows, keeping home-buying and refinancing attractive to consumers.

THE NUMBERS: Mortgage buyer Freddie Mac says the average 30-year loan rate ticked up to 3.34 percent from 3.32 last week. That's slightly above the 3.31 percent reached two weeks ago, the lowest since 1971. The average on the 15-year fixed mortgage rose to 2.67 percent from 2.64 percent, just above to record low of 2.63 percent also reached two weeks ago

The Electoral College Debate
Walter E. Williams

HOUSING RECOVERY: Lower mortgage rates have helped fuel a modest housing recovery.