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AP National Business

Average long-term mortgage rate falls a fourth straight week

KION
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Published 9:00 AM

By MATT OTT
AP Business Writer

WASHINGTON (AP) — The average long-term U.S. mortgage rate fell for the fourth week in a row and have fallen more than three-quarters of a point since hitting a 20-year high last month. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate dipped to 6.33% from 6.49% last week. A year ago the average rate was 3.1%. The average long-term rate sat at 7.08% in early November, but has since had the steepest 4-week decline since 2008.

Article Topic Follows: AP National Business

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