Long-Term US Mortgage Rate Eases Slightly

(CN) – The long-term interest rate for consumers buying homes across the United States eased slightly this week, Freddie Mac says. The Federal Home Loan Mortgage Corporation, known as Freddie Mac, is a public government-sponsored enterprise created in 1970 to expand the secondary market for mortgages in the United States. In its weekly mortgage survey it found the rate on 30-year fixed-rate loans slipped to an average 4.17 percent from 4.19 percent last week. Thursday’s numbers are still significantly higher than a 30-year rate that averaged 3.65 percent for all of 2016, which was the lowest level recorded from records going back to 1971.

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