News Summary: US rates on 30-year mortgages dip

AP News
Posted: Sep 19, 2013 4:18 PM

RATES DECLINE: Average U.S. rates on fixed mortgages fell this week amid signs that the economic recovery is slowing.

THE NUMBERS: Mortgage buyer Freddie Mac says that the average rate on the 30-year loan fell to 4.50 percent from 4.57 percent last week. The average on the 15-year fixed mortgage dipped to 3.54 percent from 3.59 percent last week.

FED HOLDS OFF: Many economists had expected the Fed would to decide this week to scale back bond purchases that have kept long-term rates extremely low. The central bank voted on Wednesday to continue the program at current levels.