U.S. Mortgage Rates Remain at Near Never Seen Lows

//U.S. Mortgage Rates Remain at Near Never Seen Lows

U.S. Mortgage Rates Remain at Near Never Seen Lows

With summer just around the corner and home buyers sniffing around, there’s still good news for them. U.S. mortgage rates remain at near never seen lows, although they did make a recent rise, according to Freddie Mac.

The average 30-year fixed mortgage rate sat at 3.8 percent at the end of last week (may 8th), an increase from 3.68 percent the previous week. A year ago, 30-year rates averaged 4.21 percent. So we are still in a better shape than last year.

The increase in mortgage rates “was due to a sell-off of German bonds, as well as a contraction in U.S. manufacturing jobs”, said Freddie Mac’s deputy chief economist, Len Kiefer.

Overall, lower mortgage interest rates are playing a role in bringing out new home buyers.

In Ohio, Dayton-area home sales jumped 11 percent in March, while area home selling prices also continued to rise.

The historic low for 30-year rates was 3.31 percent in November 2012.

By | 2017-01-24T12:19:37+00:00 May 14th|Categories: Mortages|Comments Off on U.S. Mortgage Rates Remain at Near Never Seen Lows