US Long-Term Mortgage Rates Fall; 30-Year at 4.55 Percent - NBC10 Boston

US Long-Term Mortgage Rates Fall; 30-Year at 4.55 Percent

The average rate on 15-year, fixed-rate loans was unchanged from last week at 4.04 percent

Find NBC Boston in your area

Channel 10 on most providers

Channel 15, 60 and 8 Over the Air

    processing...

    NEWSLETTERS

    US Long-Term Mortgage Rates Fall; 30-Year at 4.55 Percent
    Getty Images/EyeEm, File

    What to Know

    • The average rate on 30-year, fixed-rate mortgages was 4.55 percent, down from 4.57 percent last week

    • The average rate on 15-year, fixed-rate loans was unchanged from last week at 4.04 percent

    • Long-term loan rates have been running at their highest levels in seven years

    Long-term U.S. mortgage rates were flat to lower this week. The benchmark 30-year rate marked its fourth decline in the past five weeks.

    Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages was 4.55 percent, down from 4.57 percent last week. By contrast, the 30-year rate averaged 3.88 percent a year ago.

    The average rate on 15-year, fixed-rate loans was unchanged from last week at 4.04 percent.

    Long-term loan rates have been running at their highest levels in seven years. The average 30-year mortgage rate reached a high this year of 4.66 percent on May 24; the 15-year rate hit 4.15 percent that day.

    Tons of Plastic Waste Wash Ashore on Dominican Republic Coast

    [NATL] Tons of Plastic Waste Wash Ashore on Dominican Republic Coast

    An NGO claims it cleaned up over 30 tons of plastic waste off the coast of Santo Domingo.

    (Published Saturday, July 21, 2018)

    To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.

    The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. The average fee on 30-year fixed-rate mortgages was unchanged from last week at 0.5 point.

    The fee on 15-year mortgages rose to 0.5 point from 0.4 point.

    The average rate for five-year adjustable-rate mortgages rose to 3.87 percent from 3.83 percent. The fee remained at 0.3 point.