Tags: mortgage | rates | home | loans | housing

Mortgage Rates Inch Higher With 30-Year Loan at 2.93%

Mortgage Rates Inch Higher With 30-Year Loan at 2.93%
(Andrii Yalanskyi/Dreamstime)

Thursday, 03 September 2020 12:39 PM

U.S. average rates on long-term mortgages changed little this week, remaining at historically low levels that has sparked demand for homes.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan ticked up to 2.93% from 2.91% last week. By contrast, the rate averaged 3.49% a year ago.

The average rate on the 15-year fixed-rate mortgage declined, however, to 2.42% from 2.46% last week.

Housing demand continues as one of few bright spots in the pandemic-hobbled economy. Sales of new homes soared in July, rising nearly 14% as the market continued to gain traction following the spring downturn caused by pandemic-forced lockdowns.

In the wider economy, the government reported Thursday that the number of laid-off Americans applying for unemployment benefits fell to a still-elevated 881,000 last week — evidence that the pandemic keeps forcing many businesses to slash jobs.

© Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


   
1Like our page
2Share
Personal-Finance
U.S. average rates on long-term mortgages changed little this week, remaining at historically low levels that has sparked demand for homes.
mortgage, rates, home, loans, housing
143
2020-39-03
Thursday, 03 September 2020 12:39 PM
Newsmax Media, Inc.
 
Newsmax TV Live

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved