Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



U.S. Rate on 30-Year Mortgage Rises to 3.39%

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

WASHINGTON (AP) — Average U.S. rates on fixed mortgages ticked up from record lows last week. Cheaper mortgages are fueling a modest housing recovery that could help the broader economy.

Mortgage buyer Freddie Mac says the rate on the 30-year loan increased to 3.39 percent from 3.36 percent. The previous week's rate was the lowest since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage edged up to 2.70 percent, from last week's record low of 2.69 percent.

Rates have been below 4 percent all year. They've fallen even further since the Federal Reserve started buying mortgage bonds in September to encourage more borrowing and spending.

When home prices rise, people tend to feel wealthier and spend more freely. Consumer spending drives nearly 70 percent of economic activity.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2053292, ~/Articles/ArticleHandler.aspx, 10/8/2015 12:44:57 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Associated Press

Today's Market

updated Moments ago Sponsored by:
DOW 16,923.54 11.25 0.07%
S&P 500 1,994.80 -1.03 -0.05%
NASD 4,749.14 -42.01 -0.88%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes