WASHINGTON – Long-term U.S. mortgage rates fell this week, following the Federal Reserve’s decision not to raise its benchmark interest rate.
The decline put long-term mortgage rates near their low levels for the year, offering an inducement to prospective home buyers during the spring buying season.
Mortgage buyer Freddie Mac says the average 30-year fixed-rate mortgage declined to 3.61 percent from 3.66 percent last week. It’s far below its level a year ago of 3.80 percent.
The average rate on 15-year fixed-rate mortgages slipped to 2.86 percent from 2.89 percent last week.
Local journalism is essential.
Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.
Subscribe to the Coronavirus newsletter
Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.