Wednesday, December 8, 2021
53.8 F
Fort Worth

US long-term mortgage rates hit all-time low again

🕐 1 min read


By The Associated Press
SILVER SPRING, Md. (AP) — Long-term U.S. mortgage rates fell this week with the benchmark 30-year home loan hitting its lowest level ever.


Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year fixed-rate mortgage fell to 3.07%, down from last week’s 3.13%. For the second week in a row, it is the lowest level since Freddie began tracking average rates in 1971. A year ago, the rate stood at 3.75%.


The average rate on the 15-year fixed-rate mortgage also fell slightly to 2.56% from 2.59% last week, but it is down from 3.18% a year ago.


The historically low interest rates come as the U.S. housing market appears to be rebounding somewhat from a coronavirus-caused spring freeze. Sales of new homes rose a surprisingly strong 16.6% in May as major parts of the country reopened, though sales of existing homes struggled through the month with a 9.7% decline.
A report on pending home sales last week offered some optimism, with the number of Americans signing contracts to purchase homes jumping 44.3% in May after a record-breaking April decline. Those contract signings are a barometer of finalized purchases over the next two months.
The impact of the coronavirus pandemic sidelined both buyers and sellers in March and April, so there remains a tight supply of homes available for sale, running up against high demand.

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate