30-Year Mortgage Rates Fall to Two-Year Lows

US 30 year mortgage rate: US 30 Year Mortgage Rate is at 4.53%, compared to 4.59% last week and 3.90% last year. This is lower than the long term average of 8.11%.

For 30-year mortgage rates, the drop has gone from 4.5 percent one year ago to about 3.8 percent as of Thursday. The rate is close to all-time lows, and may entice refinancing activity. Special: Urgent: Three 5G Stocks to Buy ASAP; Most mortgages are eligible for refinancing, even those made as recently as 2018.

Rates for a 30-year fixed mortgage struck 6.83 percent in October 1993, and the low rate prompted a huge wave in mortgage originations, worth at about $1 trillion that year.

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Average U.S. rates. on the 30-year loan fell to 4.22 percent from to 4.35 percent last week. The average on the 15-year fixed mortgage dipped to 3.27 percent from 3.35 percent. Rates had spiked.

While the average rate for a 30-year mortgage was unchanged over the past week, holding near a two-year low of 3.82 percent, Freddie Mac’s latest Mortgage Market Survey was conducted prior to yesterday’s meeting of the Federal Reserve, after which the yield on the 10-year Treasury, which drives mortgage rates, dropped under 2 percent for the first time since the fourth quarter of 2016 and is down over one full percentage point since the fourth quarter of last year.

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The key 30-year rate averaged 4.32 per cent a year ago. The average rate this week for 15-year, fixed-rate loans declined to 3.84 per cent from 3.89 per cent.

Use annual percentage rate APR, which includes fees and costs, to compare rates across lenders.Rates and APR below may include up to .50 in discount points as an upfront cost to borrowers. Select product to see detail. Use our Compare home mortgage loans calculator for rates customized to your specific home financing need.

 · And, it’s not just the 30-year fixed rate mortgage that made new lows in this holiday-shortened week, either. The 15-year fixed rate mortgage did, too, falling 5 basis points to 2.89%, on average. The 15-year fixed rate mortgage requires 0.7 discount points plus closing costs.

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