US mortgage rates lowest in nearly 40 years
Filed under US Mortgage and Finance News · Tagged: mortgage rates, us interest rates
Long-term mortgage rates this week reached the lowest level since at least 1970, falling for the third consecutive week.
Freddie Mac’s weekly rate report said the average 30-year, fixed-rate mortgage fell to 4.78 percent, matching a low set April 7. It is the lowest rate on such mortgages since Freddie Mac started keeping track in 1970.
Adjustable-rate mortgages also eased, but one-year, adjustable-rate mortgages are averaging rates nearly the same as 30-year fixed rates, at 4.77 percent.
Freddie Mac said borrowers who refinanced their mortgages in the first quarter reduced their combined mortgage payments by about $2.5 billion over the coming year.
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Kate Williams has extensive experience working in property valuation and property rental in the UK and Australia over a 10 year period. Kate is now the Managing Director of a Melbourne based Relocation company which initially finds short term fully furnished rental accommodation for new arrivals to the city.
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