Topics

Freddie Mac
Mortgage rates drop to new low for the year, Freddie Mac says
Mortgage rates drop to new low for the year, Freddie Mac says

Mortgage rates have hit a fresh low for the year. The average for a 30-year fixed loan fell to 3.80% this week, down from 3.93% a week earlier, mortgage company Freddie Mac said Thursday. Lenders, meanwhile, offered a 15-year fixed mortgage at 3.09%, compared to 3.20% last week. Plunging oil prices and concerns over the global economy drove yields on the 10-year Treasury note this week to their lowest level since May 2013. That sent mortgage rates down as well, because they tend to track the long-term Treasury yield. The mortgage giant's survey asks lenders each Monday morning through midday Wednesday about the terms they are offering to low-risk borrowers on loans up to...

Loading