Mortgage rates dip to near record lows
Washington, D.C., United States (AHN) – Mortgage rates slipped in the latest week, keeping home-buying and refinancing affordable.
Freddie Mac reported Thursday that the average rate on 30-year fixed mortgages, the most common financing option for home buyers, slipped to its near-record low for the week ending April 26 to 3.88 percent from 3.9 percent last week. The rate hit a record low of 3.87 percent in February.
The average for a 15-year fixed-rate mortgage, a popular option among homeowners who are refinancing, inched down to 3.12 percent from 3.13 percent last week. The national average touched an all-time low of 3.11 percent just two weeks ago.
A separate report Thursday from the National Association of Realtors revealed its index of sales agreements rose 4.1 percent in March to a reading of 101.4, the highest reading since April 2010, when buyers took advantage of a federal home-buying credit.
A reading of 100 is considered healthy.
The uptick signals a slight pick-up in the housing market.