Skip to Content

Average long-term mortgage rate at lowest level in six weeks

KION

By MATT OTT
AP Business Writer

The average long-term U.S. mortgage rate inched down this week to its lowest level in six weeks, just as the spring buying season gets underway. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell for the third straight week, to 6.32% from 6.42% last week. The average rate a year ago was 4.67%. The recent decline in mortgage rates is good news for prospective homebuyers, as many have been pushed to the sidelines during the past year, partly the result of the Federal Reserve ratcheting up its main borrowing rate nine straight times.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KION 46 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content