Mortgage rate falls for 4th straight week
The average long-term U.S. mortgage rate fell for the fourth straight week, offering more relief for prospective home shoppers at a time when many have put off buying a home due to elevated home loan borrowing costs and prices. The average 30-year fixed-rate mortgage in the U.S. declined to 7.11% from 7.18% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.24%. The latest pullback brings the average rate to its lowest level since Sept. 24, when it was at 7.03%. Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers ...