US long-term mortgage rates fall; 30-year at 2.67%
U.S. long-term mortgage rates declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic
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 declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic.
Mortgage finance giant Freddie Mac said Thursday that the average rate on the 30-year fixed-rate home loan fell to 2.67% from 2.71% last week. A year ago, the benchmark rate stood at 3.73%.
The average rate on 15-year fixed-rate loans eased to 2.21% from 2.26%.
The housing market continues as a rare bright spot in the stalled U.S. economy, as home-loan rates have trended downward through most of this year. That has bolstered demand from would-be homebuyers or people looking to refinance existing mortgages.
Home sales have stalled, however, as the lack of available homes for purchase continues to stifle house hunters.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.