US rate on 30-year mortgage rises to 3.39 percent
WASHINGTON (AP) â¿¿ 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 said Thursday that 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.
US foreclosure filings hit 5-year low in September
U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders.
It was the second-consecutive monthly decline in filings, although there remains a sharp divergence along state lines, according to a report Thursday by foreclosure listing firm RealtyTrac Inc.
On a national level, overall foreclosure filings last month â¿¿ including home repossessions â¿¿ fell 7 percent from August and 16 percent from September 2011. There were 180,427 foreclosure filings reported for September, the fewest since July 2007 in the midst of the housing market bust.
Mailing a letter to cost a penny more next year
WASHINGTON (AP) â¿¿ It'll cost another penny to mail a letter next year.
The cash-strapped U.S. Postal Service said Thursday that it will raise postage rates on Jan. 27, including a 1-cent increase in the cost of first-class mail to 46 cents.
It also will introduce a new global forever stamp, allowing customers to mail letters anywhere in the world for one set price of $1.10.
By The Associated Press(equals)
The Dow Jones industrial average finished down 18.58 points at 13,326.39. The S&P 500 inched up 0.28 point to 1,432.84. The Nasdaq fell 2.37 points to 3,049.41.