Average 30-year mortgage rate falls to 2017 low of 4.08 pct

Average 30-year mortgage rate falls to 2017 low of 4.08 pct

30-Year Mortgage Rate Falls

WASHINGTON/April 13, 2017 (AP)(STLRealEstate.News) Mortgage Rate — Long-term U.S. mortgage rates fell for a fourth straight week, with the benchmark 30-year rate marking a new low for the year.

Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate home loans declined to 4.08 percent this week from 4.10 percent last week. That brought the rate under its previous 2017 low of 4.09 percent reached on Jan. 19. The 30-year rate stood at 3.58 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages eased to 3.34 percent from 3.36 percent last week.

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