WASHINGTON (AP) — US long-term mortgage rates are near historically low levels this week, with the average on the benchmark 30-year loan falling to its lowest level since November 2016.
The low borrowing rates have been a boon for home buyers, even as global financial markets are roiled by concerns over the global economy. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan declined to 3.55 percent this week, from 3.6 last week. By contrast, the rate stood at 4.51 percent a year ago.
The average mortgage rate for 15-year fixed-rate home loans eased to 3.03 percent from 3.07 percent last week.