U.S. average mortgage rates mixed; 30-year loan rises to 2.80%
ASSOCIATED PRESS
Mortgage rates fell for the fourth straight week today, undercut by worries that the surging delta coronavirus variant and the worsening pandemic in hotspots around the world could derail what has been a strong economic recovery. Here, an advertising sign for building land stands in front of a new home construction site in Northbrook, Ill., on Wednesday.
WASHINGTON >> Mortgage rates were mixed last week. The key 30-year home loan remained below 3% for the fifth straight week amid continued concern over the surging delta coronavirus variant and the progress of economic recovery.
Mortgage buyer Freddie Mac reported today that the average for the 30-year mortgage edged up to 2.80% from 2.78% last week. The benchmark rate, which reached a peak this year of 3.18% in April, stood at 2.99% a year ago.
The rate for a 15-year loan, a popular option among homeowners refinancing their mortgages, fell to 2.10% from 2.12% last week.
In a fresh sign that the U.S. has enjoyed a sustained recovery from the pandemic recession, the government reported today that the economy grew at a solid 6.5% annual rate last quarter. The total size of the economy has now surpassed its pre-pandemic level.
Another positive government report showed that the number of Americans seeking unemployment benefits slid last week, with jobless claims dropping by 24,000, to 400,000.
