WASHINGTON (AP) – May 30, 2019 – U.S. long-term mortgage rates fell for the fifth consecutive week, tipping the key 30-year loan average below 4% for the first time in nearly a year and a half.
The declining rates have been a boon to potential purchasers.
Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year, fixed-rate mortgage fell to 3.99% from 4.06% last week. It was the first time it ran below 4% since January 2018. By contrast, a year ago the benchmark rate stood at 4.56%.
The average rate for 15-year, fixed-rate home loans declined this week to 3.46% from 3.51%.
Copyright 2019 The Associated Press. All rights reserved.
PLEASE CLICK LINK TO SEE AVAILABLE PROPERTIES: www.GrowProsperMOVE.com/Homesearch