Mortgage rates almost unchanged near historic lows

WASHINGTON (AP) – July 14, 2016 – Long-term U.S. mortgage rates moved little this week, remaining near historically low levels in the wake of financial disarray in Europe.

Mortgage giant Freddie Mac says the average for the benchmark 30-year fixed-rate mortgage ticked up to 3.42 percent from 3.41 percent last week, staying close to its all-time low of 3.31 percent in November 2012. The average rate is down sharply from 4.09 percent a year ago.

The 15-year mortgage rate slipped to 2.72 percent from 2.74 percent last week.

After Britain’s recent vote to leave the European Union, investors fled to the safety of U.S. Treasury bonds, driving up their prices and lowering their yields. Long-term mortgage rates tend to track the yield on 10-year Treasury notes.

AP Logo Copyright © 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s