Please ensure Javascript is enabled for purposes of website accessibility
US Mortgage Rates Slipped This Week
By admin
Published 6 years ago on
December 20, 2018

Share

WASHINGTON — U.S. long-term mortgage rates slipped this week, reflecting the stock market decline and rush by investors to Treasury notes.
Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage fell slightly to 4.62 percent from to 4.63 percent last week. Rates averaged 3.94 percent a year ago.
The rate on 15-year fixed-rate loans held at 4.07 percent for the second straight week, up from 3.38 percent a year ago.

Causing Home Sales to Drop

Higher mortgage rates over the past year have caused home sales to drop. But mortgage rates have declined in recent weeks as fears about an economic slowdown have caused more investors to sell stocks and buy Treasury notes.
Amid the purchases, the interest on a 10-year Treasury has fallen from 3 percent to under 2.8 percent in the past month. Mortgage rates generally correspond with the interest charged on U.S. government debt.
Sam Khater, Freddie Mac’s chief economist, said that lower rates should help to boost home sales.
“Given the further drop in rates we’ve seen this month, we expect to see a modest rebound in home sales as well,” he said.

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Newsom Promises Funding to Jump-Start ‘Science of Reading’

DON'T MISS

Feds Indict SoCal Hospice CEO for Medicare Fraud in Fresno and Kern Counties

DON'T MISS

Fresno Downtown Parking Costs Taxpayers an Extra $4 Million

DON'T MISS

NASA and the Defense Department Rely on SpaceX in So Many Ways

DON'T MISS

Whooping Cough Is Surging. Do You Need Another Shot?

DON'T MISS

Rancho Cucamonga Prepares for First US Bullet Train Hub in 2028

DON'T MISS

8 Ways Musk and Trump Could Inflict Pain on Each Other

DON'T MISS

Fresno Unified Has Twice as Many Administrators, Lower Test Scores Than Its Peer District

DON'T MISS

Sunday’s Life Jacket Giveaway Promotes Safety on Fresno Area Waters

DON'T MISS

D-Day Veterans Return to Normandy to Mark 81st Anniversary of Landings

UP NEXT

D-Day Veterans Return to Normandy to Mark 81st Anniversary of Landings

UP NEXT

Lambda Legal, a Nonprofit Supporting LGBTQ+ Rights, Exceeded Fundraising Goal by $105M

UP NEXT

Trump Threatens Musk’s Government Deals as Feud Explodes Over Tax-Cut Bill

UP NEXT

Trump Amplifies Outlandish Robot Biden Conspiracy Theory

UP NEXT

American Doctors Are Moving to Canada To Escape the Trump Administration

UP NEXT

Loretta Swit, Emmy-winner Who Played Houlihan on Pioneering TV Series ‘M.A.S.H.,’ Has Died at 87

UP NEXT

1 in 4 US Children Have Parents With Substance Use Disorder, Study Finds

UP NEXT

Dozens Sickened in Expanding Salmonella Outbreak Linked to Recalled Cucumbers

UP NEXT

Speaker Johnson Raises Campaign Money in Fresno

UP NEXT

Business Insider Cuts 21% of Workforce, Memo Shows

NASA and the Defense Department Rely on SpaceX in So Many Ways

2 hours ago

Whooping Cough Is Surging. Do You Need Another Shot?

2 hours ago

Rancho Cucamonga Prepares for First US Bullet Train Hub in 2028

2 hours ago

8 Ways Musk and Trump Could Inflict Pain on Each Other

2 hours ago

Fresno Unified Has Twice as Many Administrators, Lower Test Scores Than Its Peer District

3 hours ago

Sunday’s Life Jacket Giveaway Promotes Safety on Fresno Area Waters

4 hours ago

D-Day Veterans Return to Normandy to Mark 81st Anniversary of Landings

4 hours ago

Lambda Legal, a Nonprofit Supporting LGBTQ+ Rights, Exceeded Fundraising Goal by $105M

4 hours ago

Jury Awards California Prosecutor $3 Million After She Says She Was Forced Out of Her Position

4 hours ago

How Trump’s Pick for Surgeon General Uses Her Big Online Following to Make Money

5 hours ago

Newsom Promises Funding to Jump-Start ‘Science of Reading’

California Gov. Gavin Newsom confirmed Thursday that the state budget will include hundreds of millions of dollars to fund legislation neede...

4 minutes ago

4 minutes ago

Newsom Promises Funding to Jump-Start ‘Science of Reading’

16 minutes ago

Feds Indict SoCal Hospice CEO for Medicare Fraud in Fresno and Kern Counties

1 hour ago

Fresno Downtown Parking Costs Taxpayers an Extra $4 Million

2 hours ago

NASA and the Defense Department Rely on SpaceX in So Many Ways

2 hours ago

Whooping Cough Is Surging. Do You Need Another Shot?

2 hours ago

Rancho Cucamonga Prepares for First US Bullet Train Hub in 2028

2 hours ago

8 Ways Musk and Trump Could Inflict Pain on Each Other

3 hours ago

Fresno Unified Has Twice as Many Administrators, Lower Test Scores Than Its Peer District

Help continue the work that gets you the news that matters most.

Search

Send this to a friend