Honolulu, Hawaii 2021-09-16 18:15:00 –
Washington >> This week’s average long-term mortgage rates fell as economic outlook continued to subside in a wave of new delta variant coronavirus cases. They remained less than 3%.
Mortgage buyer Freddie Mac today reported that the average 30-year mortgage rate fell from 2.88% last week to 2.86%. This is very close to last year’s current benchmark rate of 2.87%. This year it peaked at 3.18% in April. Mortgage rates fell in early summer and remained stable despite rising inflation.
Interest rates on 15-year loans, a popular option for homeowners to refinance their mortgages, fell from 2.19% last week to 2.12%.
There is a great deal of concern that highly contagious delta mutants can cause an economic recovery from a pandemic to a stall by reducing employment and weakening consumer spending. Vaccine hesitation was cited by economists as an important factor after the government reported this month that employers added 235,000 jobs in August.
According to a new government report today, the number of Americans seeking unemployment benefits rose from a pandemic low to 332,000 last week. This indicates that the prevalence of delta variants may have increased layoffs slightly.
Mortgage rates dip lower this week Source link Mortgage rates dip lower this week