WASHINGTON (AP) – Aug. 23, 2018 – Long-term U.S. mortgage rates fell this week for the third consecutive week, yet they remain significantly higher than a year ago.
Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages ticked down to 4.51 percent from 4.53 percent last week. A year ago, the average was 3.86 percent. The interest charged on home loans have been running at their highest levels in seven years, although they remain below the long-term historic average.
The average rate on 15-year, fixed-rate loans fell to 3.98 percent this week from 4.01 percent last week.
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