Rates:
FHA: 4.25% VA: 4.25% Conventional: 4.375% USDA: 4.5% Jumbo: 5.25%
Home-mortgage interest rates fell last week to the lowest point of 2011 amid signs of a slowing economy, according to the latest survey from Freddie Mac. "U.S. house prices indexes may be nearing a bottom soon," Freddie Mac Chief Economist Frank Nothaft said, pointing to slower price declines in recent months and a reduction in the serious delinquency rate. At the same time, the U.S. economy has showed signs of slowing, with Federal Reserve banks in Philadelphia, Chicago and Richmond, Va., reporting less business and manufacturing activity in their regions.
The 30-year fixed-rate mortgage averaged 4.60% in the week ended Thursday