Buyers Catch a Break as Mortgage Rates Fall Most Since 2008
- The 30-year average drops to 4.06%, lowest in more than a year
- Decline is giving a boost to the slowing U.S. housing market
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U.S. mortgage rates fell by the most in more than a decade, giving homebuyers a crack at the lowest loan costs since early 2018. The slowing housing market could use the boost.
The average rate for a 30-year loan was 4.06 percent, down from 4.28 percent last week, Freddie Mac said in a statement Thursday. The decline was the biggest since December 2008. The average 15-year rate dropped to 3.57 percent from 3.71 percent.