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August 7, 2020

Mortgage rates fall again: now at 2.88%

WASHINGTON (AP) — U.S. average rates on long-term mortgages fell this week, pushing the key 30-year loan to a record low for the eighth time this year.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan dropped to 2.88% from 2.99% last week. It was the lowest level since Freddie started tracking rates in 1971. By contrast, the rate averaged 3.60% a year ago.


 
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