Mortgage rates fall to 12-month low – 30-year at 4.37%

WASHINGTON (AP) – Feb. 14, 2019 – U.S. long-term mortgage rates fell this week to a 12-month low, an enticement for prospective homebuyers in the upcoming season.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage declined to 4.37 percent from 4.41 percent last week. The key 30-year home borrowing rate averaged 4.38 percent a year ago.

The average rate this week for 15-year, fixed-rate loans eased to 3.81 percent from 3.84 percent.

Indications that inflation and economic growth around the world have slowed have been pushing mortgage rates lower, experts say. Increases in home prices have slowed in many areas of the country, and more homes have come on the market.

Along with historically low mortgage rates, those developments are expected to boost this spring’s home buying season.

AP Logo Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Whether you’re buying, selling, renting or investing in real estate, location, timing and a hiring the best real estate professional to represent you are key factors to any successful real estate transaction.
Call Scott Rivelli PA today for all your real estate needs and questions.
We are always available to help “move you in the right direction”

Scott Rivelli Logo Hospitality Real Estate Group