US long-term mortgage rates fall to a record low — again (Dec. 17)
Low rates have bolstered demand from would-be home buyers or people looking to refinance their mortgages.
WASHINGTON (AP) — US long-term mortgage rates declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic.
Mortgage finance giant Freddie Mac said Thursday that the average rate on the 30-year fixed-rate home loan fell from 2.71 percent last week to 2.67 percent. A year ago, the benchmark rate stood at 3.73 percent.
The average rate on 15-year fixed-rate loans eased from 2.26 percent to 2.21 percent.
The housing market continues as a rare bright spot in the stalled US economy, as home-loan rates have trended downward through most of this year. That has bolstered demand from would-be home buyers or people looking to refinance their mortgages.
Home sales have stalled, however, as the lack of available homes for purchase continues to stifle house hunters.
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