Clear
71.4 ° F
Full Weather
Sponsored By:

US mortgage rates stall; 30-year remains at all-time low

Sponsored by:

NEW YORK (AP) — Long-term U.S. mortgage were unchanged this week as the benchmark 30-year home loan remains at its lowest rate in nearly 50 years.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year loan stood at 3.13%, the same as last week. It is the lowest level since Freddie began tracking average rates in 1971. A year ago, the rate stood at 3.73%.

The average rate on the 15-year fixed-rate mortgage rose slightly to 2.59% from 2.58% last week, but it is down from 3.16% a year ago.

The historically low rates coincide with a housing market that is showing signs of recovery. Sales of new homes rose a surprisingly strong 16.6% in May with the reopening of major parts of the country. Sales of existing homes, though, are still struggling, with a 9.7% plunge in May. And, there is still a tight supply of homes available for sale, running up against high demand.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate
Feedback