Average US mortgage rates fall for 2nd straight week
· WASHINGTON (AP) – U.S. long-term mortgage rates fell this week, starting the year with an inducement to prospective homebuyers. mortgage buyer freddie mac said Thursday the average rate on the benchmark 30-year, fixed-rate mortgage declined to 4.51 percent from 4.55 percent last week. Despite recent declines, home borrowing rates remain far above last year’s levels.
McLEAN, Va. – Average rates for 30-year mortgages fell for the second-straight week, but still remained above record lows reached earlier this year, Freddie Mac said Thursday.
The effective rate increased from last week. The average contract interest rate for 30-year FRMs backed by the FHA inched up one basis point to 3.98 percent, with points increasing to 0.50 from 0.
Mortgage applications fall for third straight week, despite lower interest rates July 31, 2019 | Diana Olick, NBR, CNBC.com Potential home buyers walk past an ‘Open House’ sign displayed in the front yard of a property
The average rate is at its lowest level in seven weeks. That’s down from 4.56 percent the previous week but up sharply from the 3.89 percent rate a year ago. The average 15-year rate fell even more, from 4.06 percent to 4.01 percent. The five-year adjustable rate mortgage rate also fell, from 3.80 percent to 3.74 percent.
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Average US mortgage rates fall for 2nd straight week. While historically low, that is still above last year’s average of 3.65 percent. The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, eased to 3.2 percent from 3.23 percent last week.
Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage eased to 4.07% from 4.10% last week. By contrast, a year ago the benchmark rate stood at 4.61%.
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The rate on 30-year, fixed-rate mortgages slid to 3.92 percent from 3.96 percent the previous week. Average U.S. mortgage rates fall for second straight week | Business | stltoday.com Thanks for.
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Long-term U.S. mortgage rates fell this week for the second straight week, with relatively lower rates continuing to fail to spark home sales. Mortgage buyer Freddie Mac said Thursday the average rate.
Mortgage application volume fell for a second straight week. compared with the same week one year earlier. “With mortgage rates up for a second week in a row, it’s no surprise that refinances slid.