30-year Mortagage Interest Rates Fall to 4.31 Percent

Nov 3, 2011, 11:19 by R.E. Christian

The Mortgage Bankers Association said U.S. mortgage activity rose slightly in the week ended Friday with long-term mortgage interest rates little changed.

Interest rates for 30-year, fixed-rate mortgages fell from 4.33 percent to 4.31 percent with points rising from 0.42 to 0.45, the trade group said.

Rates for 15-year, fixed-rate contracts rose from 3.62 percent to 3.63 percent with points unchanged at 0.45.

The association said its weekly mortgage activity index rose 0.2 percent and the refinancing index also rose 0.2 percent.

Source: UPI