FILE- In this Nov. 28, 2018, file photo a realtor sign hangs in front of a home for sale in Pittsburgh. On Thursday, Dec. 13, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Keith Srakocic, File)
December 13, 2018 - 7:44 AM
WASHINGTON - U.S. long-term mortgage rates fell this week to their lowest level in three months, an inducement to prospective homebuyers in a haltingly recovering market.
Continued steep declines in the stock market pushed home borrowing rates lower, although they remain much higher than a year ago. Mortgage giant Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage dropped to 4.63 per cent from to 4.75 per cent last week. The key rate stood at 3.93 per cent a year ago.
The rate on 15-year fixed-rate loans fell to 4.07 per cent from 4.21 per cent the previous week.
News from © The Associated Press, 2018