“Fixed mortgage rates’ upward climb stalled this week as weak housing data put a damper on investors’ enthusiasm.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average remained at 3.83 percent with an average 0.6 point, same as it was a week ago. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 3.42 percent a year ago
What this means is home sales going into the fourth quarter continue to be weaker than economists and industry leaders anticipated. For the full story, click here.