Print

US long-term mortgage rates little changed, 30-year at 3.75%

By The Associated Press
Posted 5:08PM on Thursday 11th July 2019 ( 3 months ago )

WASHINGTON (AP) — U.S. long-term mortgage rates were mostly unchanged this week amid signals from the Federal Reserve that it is preparing to cut interest rates soon.

Mortgage buyer Freddie Mac says that the average rate on the benchmark 30-year mortgage stood at 3.75%, the same as the previous week. A year ago the rate stood at 4.53%.

The average rate for 15-year, fixed-rate home loans ticked up this week to 3.22% from 3.18%. It was 4.02% one year ago.

Low interest rates and stabilizing home prices appear to be nudging some home buyers. The National Association of Realtors says that more Americans signed contracts to purchase homes in May compared with the prior month.

In this June 13, 2019, photo a house on the market has a "new price" sign fixed on the realtor's sign in northeast Jackson, Miss. On Thursday, July 11, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Rogelio V. Solis)

http://accesswdun.com/article/2019/7/813093

© Copyright 2015 AccessNorthGa.com All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.