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U.S. mortgage rates hit 19-month low
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- Staff Dayton Business Journal
Attention home buyers, now may be a good time to strike. That's because the average rate on a 30-year fixed-rate has reached its lowest level since May 30, 2013.
Freddie Mac said a 30-year fixed rate averaged 3.89 percent in the week ending Dec. 4, down from 3.97 percent last week. A year ago, 30-year rates averaged 4.46 percent.
"Mortgage rates were down across the board on a week of underwhelming economic releases," said Frank Nothaft, Freddie Mac's chief economist.
Lower mortgage rates may give a boost to Dayton-area home sales, which have been behind last year's pace.
However, local home prices have been rising at a rapid pace.
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