By Josh Boak
AP Economics Writer
(AP) — U.S. long-term mortgage rates ticked up slightly this week, yet they remain near historic lows.
Mortgage buyer Freddie Mac said that the average rate on the 30-year loan rose to 3.58% from 3.55% last week. Mortgage rates have fallen sharply as a slowing global economy and tensions from the trade war between the United States and China have caused the interest rates on government bonds to tumble, prompting the average rate for a 30-year home loan to decline from 4.52% a year ago.
Lower mortgage rates should help homebuyers, but low inventories and high prices that have consistently eclipsed wage growth have restrained sales growth.
The average mortgage rate for 15-year, fixed-rate home loans rose to 3.06%, up from 3.03% last week.
- Posted August 30, 2019
- Tweet This | Share on Facebook
Average 30-year mortgage rates tick up to 3.58%
headlines Detroit
headlines National
- This Los Angeles lawyer found her calling as a death doula
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Artificial intelligence tools for brief writing and analysis are a small firm litigator’s new best friend
- Baker McKenzie partner drops suit seeking IRS documents on partnership scrutiny
- Family members sue networks after learning of loved ones’ deaths by seeing bodies on TV
- Ex-BigLaw attorney once ‘consumed with remorse’ over $10M client theft sentenced in new scheme