Mortgage rates soar, 30-year fixed at 5.65% - Jun. 4, 2009.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year home loan edged up to 3.28% from 3.26% last week. A year ago, the rate stood at 4.07%.
Last week, the 30-year fixed-rate mortgage averaged 3.45 percent and at this time last year, it averaged 4.41 percent. The 15-year fixed-rate mortgage averaged 2.79 percent, down from 3.83 percent.
On Wednesday, June 24, 2020, the average rate on a 30-year fixed-rate mortgage dropped one basis point to 3.336%, the average rate on a 15-year fixed-rate mortgage fell one basis point to 2.831%.
As of March 2020, 10-year fixed mortgage rates were at their lowest since recording began by the Bank of England at 2.44 percent. This is particularly good news for first-time home buyers and.
Mortgage rates have hit their lowest level in more than three years, which could provide a boost to the country’s housing market heading into spring.The 30-year fixed-rate average fell to 3.
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Mortgage rates fell for a 2 nd consecutive week in the week ending 28 th May, delivering a 6 th weekly decline in 10-weeks. 30-Year fixed rates fell by 9 basis points to a new all-time low 3.15%.