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US rate on 30-year mortgage slips to 3.34 pct.
WASHINGTON (AP) -- Average U.S. rates on fixed mortgages moved closer to their record lows this week, a trend that has made home buying more affordable and helped sustain a housing recovery.
Mortgage buyer Freddie Mac says the average rate on the 30-year loan slipped to 3.34 percent from 3.35 percent last week. That's near the 3.31 percent rate reached in November, the lowest on records dating to 1971.
The average on the 15-year fixed mortgage ticked down to 2.64 percent from 2.65 percent last week. The record low is 2.63 percent.
The 30-year fixed mortgage rate averaged 3.66 percent in 2012, the lowest annual average in 65 years, according to Freddie Mac.
Cheaper mortgages are a key reason sales of previously occupied homes have risen to their highest level in three years.
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Posted: Saturday, January 5 2013, 01:26 PM CST
IN OKLAHOMA NEWS
Okla. court upholds life sentence in uncle's death
May 17, 2013 21:34 GMT
OKLAHOMA CITY (AP) -- An Oklahoma appeals court has upheld the life prison sentence of a 38-year-old man who was convicted of first-degree murder for shooting his uncle to death.
The Oklahoma Court of Criminal Appeals handed down the decision Friday in the case of Patrick Shane Yargee. A jury in Tulsa County found Yargee guilty in the 2010 shooting death of 48-year-old David Willie Harjo.
Authorities alleged that Yargee shot Harjo eight times in a residence in northern Tulsa. Reports filed in the case indicate that the two men had an argument involving a woman before the shooting.
The five-judge court unanimously rejected Yargee's claims that he was denied a fair trial.
Yargee's defense attorney, Stuart Southerland of the Tulsa County Public Defender's Office, did not immediately return a telephone call seeking comment.
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From the FOX 25 First Forecast Center..
Hello everyone...Stay tuned to the weather this weekend as Tornado Alley will come to life with isolated to scattered severe t'storms from time to time. ...
Gauge of US economy's future health up in April
WASHINGTON (AP) -- A measure of the U.S. economy's future health rose in solidly in April, buoyed by a sharp rise in applications to build new homes and apartments.
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
Eds: With BC-US--Dow Record. Adds photos.
By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
IN THE NEWS: LABOR GROUP SAYS CONDITIONS AT APPLE PLANTS IMPROVING
WASHINGTON (AP) -- A labor group Apple joined to assess working conditions at three manufacturing plants in China, where its products are made, says conditions are getting better.
ON THIN ICE?
ANCHORAGE, Alaska (AP) -- He was already on thin ice with the law when he failed to meet the conditions of his probation.