While unchanged week-to-week, the rate is still almost a full point lower year-to-year. In Nov. 2018, the 30-year FRM averaged 4.62%.
WASHINGTON (AP) – U.S. long-term mortgage rates were unchanged this week, staying near historically low levels.
Mortgage buyer Freddie Mac says the average rate for a 30-year fixed-rate mortgage held at 3.73% for the second straight week. The benchmark rate was 4.62% a year ago, a level that appears to have depressed home sales as interest rates increased in response to higher federal budget deficits following President Donald Trump’s tax cuts.
But interest rates have tumbled over the past 12 months due to greater uncertainty over trade with China, slower economic growth and the Federal Reserve cutting a…
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