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Mortgage giant Freddie Mac said Thursday the average rate on the benchmark 30-year, fixed-rate mortgage dropped to 4.63 percent from to 4.75 percent last week. The key rate stood at 3.93 percent a.
Mortgage rates sink to new 3-year lows on weak manufacturing data. In less than a year, the 30-year fixed rate has fallen more than 125 basis.
Mortgage rates fall to lowest level in nearly two years. As mortgage rates dip below 4 percent, falling to nearly two-year lows, homebuyers are. the average rate for a 30-year fixed-rate mortgage has fallen to 3.82 percent. Compare today’s 30 year fixed mortgage rates from top mortgage lenders.
Interest rates on U.S. 30-year, fixed-rate mortgages decreased to 13-month lows in step with lower bond yields due to worries about a slowing economy, solid investor demand for debt supply and.
U.S. mortgage rates fell, reducing borrowing costs for homebuyers after the 30-year average jumped to a two-year high last week. While the 30-year average has climbed from a near-record low of 3.35. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 3.60% from 3.75% last week.
The benchmark 30-year fixed-rate mortgage fell this week to 3.79 percent from 3.85 percent, according to Bankrate’s weekly survey of large lenders. Although purchase applications rose 2 percent over the same week last year, Kan said, low mortgage rates haven’t led to a major boost in.
Rates for a 30-year fixed mortgage struck 6.83 percent in October 1993, and the low rate prompted a huge wave in mortgage originations, worth at about $1 trillion that year. U.S. mortgage rates fell to a four-month low after a weaker-than-expected jobs report drove investors to the safety of the government bonds that guide borrowing costs.
While the average rate for a 30-year mortgage was unchanged over the past week, holding near a two-year low of 3.82 percent, Freddie Mac’s latest mortgage market survey was conducted prior to yesterday’s meeting of the Federal Reserve, after which the yield on the 10-year Treasury, which drives mortgage rates, dropped under 2 percent for the first time since the fourth quarter of 2016 and is down over one full percentage point since the fourth quarter of last year. The decline was led by.