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Mortgage rates continue to fall

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Thursday, Aug. 23, 2018 1:48 PM
U.S. mortgage rates fell this week for the third consecutive week, yet they remain significantly higher than a year ago.

WASHINGTON – Long-term U.S. mortgage rates fell this week for the third consecutive week, yet they remain significantly higher than a year ago.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages ticked down to 4.51 percent from 4.53 percent last week. A year ago, the average was 3.86 percent. The interest charged on home loans have been running at their highest levels in seven years.

The average rate on 15-year, fixed-rate loans fell to 3.98 percent this week from 4.01 percent last week.

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