Baltimore Sun

30-year mort­gage rate at his­toric low

- Business · Mortgages · Finance · Stocks & Markets · Real Estate · Personal Finance · Infectious Diseases · Financial Markets · Health Conditions · Washington · United States of America · Freddie Mac

WASH­ING­TON — U.S. long-term mort­gage rates fell this week as the key 30-year loan reached a new all-time low for the 10th time this year.

Home loan rates have marked a year­long de­cline amid eco­nomic anx­i­ety in the re­ces­sion set off by the coro­n­avirus pan­demic. Mort­gage buyer Fred­die Mac re­ported Thurs­day that the av­er­age rate on the 30-year mort­gage fell to 2.81% from 2.87% last week. The av­er­age rate on the 15-year fixed-rate mort­gage de­clined to 2.35% from 2.37%.

The low bor­row­ing rates have bol­stered de­mand by prospec­tive home­buy­ers. But the de­mand has been con­strained by eco­nomic hard­ship brought by the pan­demic.

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