Long-term mortgage rates drop again
The average on the benchmark 30-year loan has fallen to its lowest level since November 2016. Read more on realestate.boston.com.
WASHINGTON (AP) — US long-term mortgage rates are near historically low levels this week, with the average on the benchmark 30-year loan falling to its lowest level since November 2016.
The low borrowing rates have been a boon for home buyers, even as global financial markets are roiled by concerns over the global economy. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan declined to 3.55 percent this week, from 3.6 last week. By contrast, the rate stood at 4.51 percent a year ago.
The average mortgage rate for 15-year fixed-rate home loans eased to 3.03 percent from 3.07 percent last week.
Subscribe to the Globe’s free real estate newsletter — our weekly digest on buying, selling, and design — at pages.email.bostonglobe.com/AddressSignUp. Follow us on Facebook, Instagram, and Twitter @globehomes.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com