Average US 30-year mortgage rate eases to 3.47 per cent
WASHINGTON — Long-term U.S. mortgage rates declined this week, moving closer to historically low levels.
Mortgage giant Freddie Mac said Thursday the average for a 30-year fixed-rate mortgage eased to 3.47 per cent from 3.52 per cent last week. The benchmark rate is down from 3.76 per cent a year ago and close to its all-time low of 3.31 per cent in November 2012.
The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, ticked down to 2.78 per cent from 2.79 per cent.
The low rates have continued to lure buyers into the market. Data issued Thursday by the National Association of Realtors showed that more people signed contracts to buy homes in September, an increase that likely points to rising sales in the closing months of the year.