Average 30-year loan rate drops
Mortgage lenders were offering conventional 30year loans at an average rate of 4% this week, compared with 4.04% a week ago, Freddie Mac’s weekly survey showed.
The survey found that fixed rates for 15-year loans also eased slightly, from 3.25% to 3.23%. There was little change in the start rates for adjustable home loans.
Borrowers would have paid an average of 0.7% of the loan balance in upfront lender fees and discount points to obtain the 30-year fixedrate loan in the latest survey. Payments for such services as appraisals and title insurance are not included.