US Long-Term Mortgage Rates Fall; 30-Year at 4.55 Percent - NBC 10 Philadelphia
National & International News
The day’s top national and international news

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

    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.

    1 Killed as Tornadoes Touch Down in Virginia

    [NATL] 1 Killed as Tornadoes Touch Down in Virginia

    Remnants of what was once Hurricane Florence are still causing problems along the East Coast. One person was killed and another injured during a tornado in Chesterfield County, VA.

    (Published Monday, Sept. 17, 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.