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-year
Treasury note, which has fallen in recent weeks.The Federal Reserve has
been buying Treasury bonds since the fall. That has helped to lower
the yield. And in recent weeks, concerns that the U.S. and global
economies are slowing have led investors to shift money into safer assets,
like Treasurys, and away from stocks. Greater demand for Treasurys raises
their price and lowers their yield.The yield was 1.72 percent at midday
Thursday, up from 1.69 percent last week but still at a historically
low level.To calculate average mortgage rates, Freddie Mac surveys lenders
across the country on Monday through Wednesday each week. The average doesn't
include extra fees, known as points, which most borrowers must pay to
get the lowest rates. One point equals 1 percent of the loan
amount.The average fee for 30-year mortgages rose to 0.8 point from 0.7
point last week. The fee for 15-year loans was unchanged at 0.7
point.The average rate on a one-year adjustable-rate mortgage fell to 2.58
percent from 2.63 percent last week. The fee for one-year adjustable-rate
loans increased to 0.5 point from 0.4.The average rate on a five-year
adjustable-rate mortgage rose to 2.62 percent from 2.60 percent. The fee
declined to 0.3 point from 0.5.
Justin Bieber accepts the award for favorite pop rock album for "Believe"
at the 40th American Music Awards in Los Angeles, California, November 18,
2012.ReutersCanadian singer Justin Bieber performs in a concert at the Atlantico
pavilion in Lisbon March 11, 2013.ReutersSwedish police say they have found
drugs on board a tour bus used by Justin Bieber.Police spokesman Lars
Bystrom says a small amount of drugs and a stun gun were
found when officers raided the empty bus parked under the Globen concert
venue in Stockholm, where Bieber was performing Wednesday.Bystrom said Thursday
they have no suspects and no one has been arrested. He declined
to identify the drug, saying it had been sent to a laboratory
for an analysis.He says police acted after smelling marijuana coming from
inside the bus when it was parked outside the hotel where Bieber
was staying. The drug squad was alerted and searched the bus during
the concert.But a source close to Bieber denied the claims made by
the police."The cops found nothing and left. No violations. Nothing," the
source told FOX 411.On Thursday morning, the 19-year-old singer tweeted:
"some of the rumors about me....where do people even get this stuff.
whatever...back to the music."Bieber is in Stockholm as part of a world
tour.The Associated Press contributed to this report.
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