Mortgage Rates falling Again – Good News For Buyers!

WASHINGTON (AP) – Feb. 21, 2019 – U.S. long-term mortgage rates dipped this week to the lowest average in more than a year, providing a possible boost to the start of the spring homebuying season in March.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage declined to 4.35 percent from 4.37 percent last week. The key 30-year home borrowing rate averaged 4.40 percent a year ago.

This week was the lowest average since the week of February 8, 2018.

The average rate this week for 15-year, fixed-rate loans declined to 3.78 percent from 3.81 percent.

Mortgage rates hew closely to changes in the interest charged on 10-year U.S. Treasury notes. Lower borrowing costs should help boost home sales, as rising mortgage rates in 2018 caused homebuying to tumble last year.

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 Copyright 2019 The Associated Press, Josh Boak. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Author: Dominick Tascher Group - Blog

Naples to Estero Real Estate Blog by Dominick Tascher Group at MVP Realty brings to the public the latest information about real estate news and trends, market reports, new communities and also topics related to living in the paradise of SW Florida; Naples, Bonita Springs, Estero and South Fort Myers.

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