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Home / Business / US long-term mortgage rates fall; 30-year loan of 3.73% – Buy, News

US long-term mortgage rates fall; 30-year loan of 3.73% – Buy, News



WASHINGTON (AP) – US long-term mortgage rates fell this week. It was the seventh downturn in the last nine weeks for the 30-year fixed-rate loan key, which reached its lowest level since November 2016.

Mortgage buyer Freddie Mac said Thursday's average benchmark exchange rate 30-year mortgage fell to 3.73% from 3.84% last week. Unlike a year ago, the price was 4.55%.

The average rate for 15-year fixed-rate mortgages declined this week to 3.16% from 3.25%.

Historically low levels marked by mortgage rates in the spring's homebuying season have brought interest to potential buyers and homeowners who want to refinance. Total loan applications increased by 1.3% a week ending June 21

from a week earlier, while refinancing applications increased by 3%, according to the Mortgage Bankers Association.

Several Americans signed home purchase contracts last month compared to April, the National Association of Realtors reported Thursday, a sign that buyers may be ready to take advantage of low mortgage rates and stabilize house prices. Even with the 30-year average mortgage rate below 4%, the domestic market reduced the first five months of the year.

Freddie Mac examines lenders across the country between Monday and Wednesday each week to compile their mortgage rates. [19659002] The average does not include additional fees, known as points, that most borrowers have to pay to get the lowest rates.

The average fee on 30-year fixed-rate mortgages was unchanged this week at 0.5 points.

The average fee for the 15-year home loan increased to 0.5 points from 0.4 points.

The average rate for five-year fixed-rate fixed-interest rate fixing fell to 3.39% from 3.48% last week. The fee was stable at 0.4 points.


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