Morning Minute: Mortgage rates remain steady this week

There was little change in fixed mortgage rates this week with the 30-year, fixed rate averaging 4.42 percent and the 15-year averaging 3.43 percent, slight declines compared to last week, but overall holding steady, according to Freddie Mac’s latest release. From Freddie Mac Vice President and Chief Economist Frank Nothaft:

“Mortgage rates were little changed amid a light week of economic data releases. Of the few releases, total nonfarm payroll employment rose by 203,000 in November and the unemployment rate declined to 7.0 percent. Also, single family mortgage debt outstanding increased for the first time since 2008. This is a positive sign as it reflects that the pick-up in new purchase-money originations has offset loan paydowns and led to a net increase in principal outstanding.”

In other headlines:

Foreclosure epidemic over, says RealtyTrac – UPI

RealtyTrac: Foreclosure activity sees biggest drop in 3 years – HousingWire

Cook County home prices jump – Chicago Tribune

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.