Share “Average U.S. 30-year mortgage rate falls...”

Average U.S. 30-year mortgage rate falls to 4.32%

Average U.S. 30-year mortgage rate falls to 4.32%
Oklahoman Published: March 21, 2014
Advertisement

In brief

Mortgage

rates drop

— Average U.S. rates on fixed mortgages declined last week, edging closer to historically low levels.

Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan fell to 4.32 percent from 4.37 percent last week. The average for the 15-year mortgage eased to 3.32 percent from 3.38 percent.

Mortgage rates have risen about 1 percent since hitting record lows roughly a year ago.

The increase was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low.

The Fed announced in December and January — and again on Wednesday — that it was reducing its monthly bond purchases.

Associated Press