WASHINGTON (AP) — Average U.S. mortgage rates are near historically low levels.
Mortgage company Freddie Mac says that the nationwide average rate for a 30-year loan dipped to 4.12 percent, down from 4.14 last week. The average for the 15-year mortgage, which had taken a big dip the previous week, was unchanged this week at 3.22 percent. Rates on one-year adjustable mortgages averaged 2.38 percent this week, down from 2.40 percent last week.
Mortgage rates are slightly lower than they were at the same time last year, having fallen recently after climbing last summer when the Federal Reserve began talking about trimming back the monthly bond purchases it has been using to keep long-term rates low.
Original headline: Average rate on 30-year mortgages dips this week
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- The Hip New Career? Farming
- McDonald's Names Another U.S. President
- Student Startup Develops Date-rape Detector
- Sahara Casino Rises Anew as SLS Las Vegas
- Is Diversity in the Eye of the Beholder?
- Chinese Coal Gas Boom Poses Climate Risks
- Job Market Shifts Complicate Yellen's Rate Decision
- U.S. Supporters of Islamic State Get Close Scrutiny
- Dems Losing Fear of Obamacare