US long-term mortgage rates flat; 30-year stays at 2.73%
WASHINGTON (AP) — U.S. long-term mortgage rates were flat this week, staying near record lows as the economy remains burdened by the coronavirus pandemic.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan remained at last week’s 2.73%. By contrast, the rate stood at 3.45% a year ago.
The average rate on 15-year fixed-rate loans, popular among homeowners seeking to refinance their mortgages, ticked up to 2.21% from 2.20%.
The number of Americans seeking unemployment benefits fell to 779,000 last week, the government reported Thursday, a still-historically high total showing that a sizable number of people keep losing jobs to the coronavirus pandemic.
The damage from the pandemic to the U.S. and global economies suppressed mortgage rates through most of 2020.
Economists forecast modest increases in home-loan rates this year. But they likely will remain relatively low, with the Federal Reserve keeping interest rates near zero as needed until the economy recovers.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Baton Rouge rapper NBA YoungBoy pleads not guilty to federal weapons charges
Officials with EBR Schools face pushback from community over 'Smart Start' plan
Thursday's 2 Your Health Report
Roofers slammed after hail storms damage properties in Ascension
Parish offers 'no comment' to eroding drainage ditch issue in Prairieville
'We have a plan': Coach O quiet on how Title IX scandal...
Southeastern regains sole possession of first place in Southland standings with win...
Max Johnson in the mix for LSU starting quarterback job
Coach O admits to mistakes, takes steps to correct them in the...
Saints QB Jameis Winston gets emotional discussing Drew Brees