U.S. long-term mortgage rates stay near historic lows | TribLIVE.com
U.S./World

U.S. long-term mortgage rates stay near historic lows

Associated Press
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AP
On Thursday, Freddie Mac reports on this week’s average U.S. mortgage rates.

WASHINGTON — U.S. long-term mortgage rates remained near historically low levels this week against a backdrop of volatile financial markets around the globe.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year loan was unchanged at 3.60%, its lowest level since November 2016. A year ago the rate stood at 4.53%.

The average mortgage rate for 15-year, fixed-rate home loans edged up to 3.07% from 3.05% last week.

Continued anxiety over the U.S.-China trade war and slowing global economic growth made for a rocky ride in the markets. On Wednesday, U.S. stocks plunged after the bond market sent out a fairly reliable warning signal of recession.

The whipsawed markets have sent investors fleeing from stocks to the safety of bonds, pushing bond interest rates to record lows.

Categories: Business | World
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