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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