Morning Minute: Mortgage rates fall below 4 percent, hit yearly low

Source: Freddie Mac

For the first time this year, 30-year fixed mortgage rates fell below 4 percent and hit a new low for 2014, Freddie Mac reports today.

The 30-year rate averaged 3.97 percent while the 15-year, fixed rate averaged 3.18 percent. Read more from Freddie Mac.

 

In other headlines:

Lower Rates Revive Refinancing Boom – Daily Real Estate News

Congress must extend housing short sale tax relief – HousingWire

Morning Minute: Don’t make these credit score mistakes

Many Americans don’t fully understand which spending and debt activity is tracked to determine their credit score and which isn’t, according to a new TransUnion survey. “Only 29% correctly identified mortgage payments as data that is regularly reported to credit bureaus,” HousingWire reports. At the same time, the majority of people mistakenly believed that payments for cable, utilities and cell phone contracts were regularly reported. Read more from HousingWire.

In other headlines:

Rollout is slow for FICO’s new credit scoring model – Chicago Tribune

Owning a Home Is Cheaper Than Renting – U.S. News and World Report

Area housing sales, prices down from August to September – State Journal Register

Home sales improve again in third quarter – The Peorian

Office market thriving in office, suburbs – REJournals

Major Incentives for Home Buyers This Fall – Daily Real Estate News

Morning Minute: Tips to make your home more energy efficient this fall

 

Photo Image: BigStock

HousingWire reports this morning on a new infographic from Shea Homes that offers a variety of ideas — from simple things you can do today to bigger projects to add to your long-term to-do list — that can make your home more energy efficient. The tips include everything from sealing airducts and adding weather stripping to insulating your home and replacing old heaters and furnaces. See the infographic.

In other headlines:

Peoria area home sales indicate slow economic recovery – Peoria Journal Star

You don’t need perfection to get a U.S. loan anymore – Bloomberg