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22 June 2017
 |
Long-term U.S. mortgage rates dropped slightly this week.
Mortgage buyer Freddie Mac says the benchmark
30-year, fixed-rate mortgage averaged 3.90 percent, down from 3.91 percent last
week. The rate stood at 3.56 percent a year ago and averaged a record low 3.65
percent in 2016. The Total Investment
& Insurance Solutions
The 15-year, fixed-rate home loan, popular
with homeowners seeking to refinance their mortgages, also blipped lower — to
3.17 percent from 3.18 percent. A year ago, the 15-year rate was 2.83 percent.
The rate on five-year, adjustable-rate
mortgages decreased to 3.14 percent from 3.15 percent. It was 2.74 percent a
year ago. The Total Investment &
Insurance Solutions
Mortgage rates have remained low even though
the Federal Reserve has been raising short-term rates: The Fed last week
ratcheted rates higher for the third time in six months.
To calculate average mortgage rates, Freddie
Mac surveys lenders across the country between Monday and Wednesday each week.
The average doesn't include extra fees, known as points, which most borrowers
must pay to get the lowest rates. One point equals 1 percent of the loan
amount.
The average fees on 30-year, 15-year and
five-year adjustable mortgages were unchanged at 0.5 point.The Total Investment & Insurance
Solutions
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