Mortgage Rates Make Buying a Home Easier
New Golf Course Home Under Construction by Nova Homes of South Florida
Long-term mortgage rates fell this week for a third straight week, approaching their low points for the year. Mortgage buyer Freddie Mac said Thursday, April 6, the rate on 30-year fixed-rate home loans declined to 4.10 percent from 4.14 percent last week. That brought the benchmark rate close to its 2017 low of 4.09 percent reached on January 19. The 30-year rate stood at 3.59 percent a year ago and averaged 3.65 percentage on 2016, the lowest level in records dating back to 1971. The rate on 15-year mortgages eased to 3.36 percent from 3.39 percent last week.
The Federal Reserve raised its key interest rate last month for only the third time since 2006, reflecting a consistently solid US economy. Still, some economists don't expect higher interest rates to slow home sales until later this year.
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