Tags: mortgage | rates | home | loans

Long-Term Mortgage Rates Change Little as 30-Year at 2.87 Percent

Long-Term Mortgage Rates Change Little as 30-Year at 2.87 Percent

Thursday, 08 October 2020 02:01 PM

U.S. long-term mortgage rates changed little this week, flattening in recent weeks following a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Home loan rates have remained at historically low levels.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year loan eased to 2.87% from 2.88% last week. By contrast, the rate averaged 3.57% a year ago.

The average rate on the 15-year fixed-rate mortgage ticked up to 2.37% from 2.36%.

The low borrowing rates have bolstered demand by prospective homebuyers, who on the other hand have been constrained by the scarcity of available homes for sale.

In the latest sign of the flagging economic recovery and continued elevated level of job cuts, the government reported Thursday that the number of Americans seeking unemployment benefits fell slightly last week to a still-high 840,000.

© 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 This material may not be published, broadcast, rewritten or redistributed.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. long-term mortgage rates changed little this week, flattening in recent weeks following a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic.
mortgage, rates, home, loans
143
2020-01-08
Thursday, 08 October 2020 02:01 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