The average 30-year mortgage rate has edged up (June 4)
There are signs that the economy may have already bottomed as government data show that applications for jobless aid are steadily falling.
BALTIMORE (AP) — Long-term mortgage rates increased slightly as the US economy showed signs that the worst of the coronavirus-fueled recession may have passed.
The average interest charged on a 30-year mortgage was 3.18 percent this week, up from 3.15 percent a week ago, according to a report Thursday by mortgage buyer Freddie Mac. That average is down from 3.82 percent a year ago.
The economic collapse following the COVID-19 outbreak has corresponded with a decline in mortgage rates, but there are signs that the economy may have already bottomed, as government data show that applications for jobless aid — though still historically high — are steadily falling.
The average 15-year mortgage rate was unchanged from last week at 2.62 percent. This average has fallen from 3.28 percent a year ago.
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