Talking Points …
- According to the Federal Housing Finance Agency’s (FHFA) index on mortgage interest rates, there was an increase of 0.11 percent from August to September, thereby verifying the upward trend of rates.
- According to the FHFA, the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.38 percent for loans closed in late September.
- FHFA’s interest rate survey shows the average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.63 in September, an increase of 14 basis points. The average loan amount for all loans was $270,100 in September, down $4,400 from $274,500 in August.