Average U.S. 30-year mortgage rate holds stead
WASHINGTON (AP) – The average 30-year U.S. mortgage rate this week remained at a 52-week low of 4.10 percent for the third straight week.
Mortgage company Freddie Mac also says the average for a 15-year mortgage, a popular choice for people who are refinancing, slipped to 3.24 percent from 3.25 percent.
At its 52-week low of 4.10 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low.
The purchases are set to end in October.
The low rates appear to have boosted U.S. home sales. Also, moderating increases in home prices such as occurred in July should help support sales