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Author
The Associated Press
Date
October 10, 2013

News Summary: US rate on 30-year mortgage 4.23 pct

RATES LITTLE CHANGED: Average US rates on fixed mortgages were little changed this week, staying near their lowest levels in three months.

THE NUMBERS: Mortgage buyer Freddie Mac says the average rate on the 30-year loan edged up to 4.23 percent from 4.22 percent last week. The average on the 15-year fixed loan rose to 3.31 percent from 3.29 percent.

OUTLOOK: Mortgage rates began falling last month after the Federal Reserve held off slowing its $85-billion-a-month in bond purchases. Rates have also stayed low because of the partial government shutdown and a lack of government economic data.

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