Alva Review-Courier -

US long-term mortgage rates flat to lower; 30-year at 3.33%


April 10, 2020

WASHINGTON (AP) — U.S. long-term mortgage rates were stable to slightly lower this week after two weeks of declines amid deepening anxiety over the severe damage to the economy from the coronavirus pandemic.

Home-loan rates have been hitting all-time lows, and mortgage buyer Freddie Mac says there's room for them to move lower. Freddie Mac reported Thursday that the average rate on the benchmark 30-year loan was unchanged this week at 3.33%. A year ago the rate stood at 4.12%.

The average rate on the 15-year fixed-rate mortgage declined this week to 2.77% from 2.82% last week.

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