US long-term mortgage rates fall sharply: 30-year at 3.60%

WASHINGTON — U.S. long-term mortgage rates fell sharply this week, with the benchmark 30-year loan touching its lowest level since November 2016.

Financial markets around the globe have been whipsawed by anxiety over the U.S.-China trade war, sending investors fleeing from stocks to the safety of bonds and pushing bond interest-rates to record lows.

Mortgage buyer Freddie Mac says the average rate on the 30-year mortgage dropped to 3.60% from 3.75% last week. A year ago the rate stood at 4.59%.

The average rate for 15-year, fixed-rate home loans tumbled to 3.05% from 3.20%.

Must Read

Global stocks drift lower as investors await US data

Aug 16, 2016

Shares were lower across global markets on Tuesday in sluggish trading, while oil prices resumed gains

Dominican leader assumes 2nd term, pledges tech revolution

Aug 16, 2016

The president of the Dominican Republic has been sworn in for a second term as leader of the country boasting the best economic grown in Latin America and the Caribbean

Are France's burkini bans sexist, or liberating?

Aug 17, 2016

Male officials are dictating what women can wear on French beaches _ and people across a wide swath of French society say that's a good thing

Search

Obserworld delivers the most accurate and up-to-date world news for the global audience with a thorough research and in-depth interviews. Discover the world through Obserworld.

Contact us: sales[at]obserworld.com