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Sue Kuhn of Big Valley Mortgage | Business Referrals Sue Kuhn, lender at Big Valley Mortgage speaks about being in the business for over twenty years and why she works at Big ...

US average mortgage rates fall; 30-year at 4.28 percent

With economic growth showing signs of slowing in the U.S. and abroad, interest rates have eased. Reflecting dimmer expectations for growth, the Federal Reserve left its key interest rate unchanged Wednesday. The Fed kept the rate — which can influence mortgage loans as well as credit cards, home equity lines of credit and more — in a range of 2.25 percent to 2.5 percent.

The lower home-lending rates, combined with continued moderation of home prices, should enhance affordability for homebuyers as the season begins, Freddie Mac chief economist Sam Khater said.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.

The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates.

The average fee on 30-year fixed-rate mortgages was unchanged this week at 0.4 point. The fee on 15-year mortgages also held steady at 0.4 point.

buyers agent or mortgage broker in south texas, rio grande valley, mcallen area?

can anyone recommend a good one? one with experience? thanks!

Unless you reside in the area there is no way one of the potential persons answering this question can give you a referral. The best thing for you to is select at random from the local telephone book local mortgage brokers.