Interest rates on U.S. 30-year fixed-rate mortgages fell below 4% for the first ...
NEW YORK - Interest rates on U.S. 30-year fixed-rate mortgages fell below 4% for the first time since January 2018 in step with declining U.S. bond yields due to growing trade tension between China and the United States, Freddie Mac said on Thursday.
Thirty-year mortgage rates averaged 3.99% in the week ended May 30, down from 4.06% a week earlier and 4.56% a year ago, the mortgage finance agency said. Interest rates on five-year adjustable mortgages averaged 3.60%, down from 3.68% the prior week and 3.80% from the year before. Jitters about flagging business activities around the world spurred a safe-haven stampede for longer-dated U.S. government debt, sending 10-year Treasury yields to 2.21% on Wednesday, their lowest level since September 2017.
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