Benchmark U.S. 30-year mortgage rises slightly to 2.67%
U.S. long-term mortgage rates ticked up slightly this week but remain near record lows as the coronavirus pandemic continues wreak havoc on the U.S. and global economies
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.U.S. long-term mortgage rates ticked up slightly this week but remain near record lows as the coronavirus pandemic continues wreak havoc on the U.S. and global economies.
The average rate on the benchmark 30-year fixed-rate home loan rose to 2.67% from a record-low 2.66% last week, according to mortgage giant Freddie Mac on Thursday. A year ago, it stood at 3.72%
The average rate on 15-year fixed-rate loans, popular among homeowners seeking to refinance their mortgages, dipped to 2.17% from 2.19% last week. A year ago it averaged 3.16%.
The 5-year adjustable rate mortgage averaged 2.71%, down from last week's 2.79%. It averaged 3.16% one year ago.
Record low lending rates have helped push buyers into the housing market, but a lack of available homes has left many house hunters empty handed. The lack of supply has been pushing prices up even before the pandemic struck last March.