This past week, mortgage rates have declined “as fears about the economic Graph via the Wall Street Journal
This past week, mortgage rates have declined “as fears about the economic impacts of turmoil in the Middle East helped depress yields on long-term bonds, including those that fund most home loans,” according to Inman News and a survey by Freddie Mac.
The Wall Street Journal reported that the 30-year fixed-rate mortgage averaged 4.95%, down from last week’s 5% and 5.05% a year before.
Rates on 15-year fixed-rate mortgages were 4.22%, below last week’s 4.27% and the year-earlier average of 4.4%, as well.
After a spike in rates that hadn’t been so high since last April, this is promising for a downward trend in mortgage rates despite mixed overall economic reports.
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