Rate on 30-year mortgage falls to 3.43%

Rate on 30-year mortgage falls to 3.43%

Summary:

  • Mortgages fell sharply this week and moved closer to historic lows, keeping home-buying and refinancing attractive.
  • Rate for 30-year fixed loans fell to 3.43% from 3.54% last week.
  • Rate on 15-year fixed mortgages dipped to 2.65% from 2.74% last week.
  • Low mortgage rates are helping sustain a housing recovery that began last year.
  • Mortgage rates have been low because they tend to track the yield on 10-year Treasury notes. The yield has fallen in recent weeks and went as low as 1.71% April 5, after a weak report on March
  • When demand rises, bond yields fall.
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Categories: Capital Markets

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