FILE - This Monday, July 14, 2014 file photo shows a home for sale in Alameda, Calif. Freddie Mac reports on average U.S. mortgage rates for this week on Thursday, Aug. 14, 2014. (AP Photo/Ben Margot, File) (AP)

Average US 30-year mortgage rate at 4.12 percent


August 14, 2014 6:15PM (UTC)

WASHINGTON (AP) — Average long-term U.S. mortgage rates declined this week, approaching their lows for the year.

Mortgage company Freddie Mac says the nationwide average for a 30-year loan slipped to 4.12 percent from 4.14 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, fell to 3.24 percent from 3.27 percent last week.

Advertisement:

Mortgage rates are below the levels of a year ago. They have fallen in recent weeks after climbing last summer when the Federal Reserve began talking about reducing the monthly bond purchases it was making to keep long-term borrowing rates low.

Mortgage rates often follow the yield on the 10-year Treasury note. The 10-year note traded at 2.42 percent Wednesday, close to the year's low and down from 2.47 percent a week earlier.


Related Topics ------------------------------------------

From The Wires

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••





Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •