US mort­gage rates fall to his­toric low

Orlando Sentinel - - Business -

WASH­ING­TON — Long-term U.S. mort­gage rates fell this week as the bench­mark 30-year home loan reached an all-time low.

Mort­gage buyer Fred­die Mac re­ported Thurs­day that the av­er­age rate on the key 30-year loan de­clined to 3.13% from 3.21% last week.

It was the low­est level since Fred­die be­gan track­ing av­er­age rates in 1971. A year ago, the rate stood at 3.84%.

The av­er­age rate on the 15-year fixe­drate mort­gage eased to 2.58% from 2.62%.

Amid the coro­n­avirus pan­demic, the hous­ing mar­ket has shown strength and ro­bust home­buy­ing de­mand, but it may be dif­fi­cult to sus­tain be­cause of the tight sup­ply of homes avail­able for sale, Fred­die Mac chief econ­o­mist Sam Khater said.

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