Average U.S. 30-year mortgage rate at 4.1 percent

WASHINGTON — The average 30-year U.S. mortgage rate remained at a 52-week low of 4.10 this week.

Mortgage company Freddie Mac also said Thursday that the average for a 15-year mortgage, a popular choice for people who are refinancing, rose to 3.25 percent from 3.23 percent.

At its 52-week low of 4.10 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end in October.

The low rates appear to have boosted U.S. home sales. Data released Thursday showed that more Americans signed contracts to buy homes in July. The National Association of Realtors said its seasonally adjusted pending home sales index rose 3.3 percent to 105.9 last month. Still, the index remains 2.1 percent below its level a year ago.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was 0.5 point, unchanged from last week. The fee for a 15-year mortgage remained at 0.6 point.

The average rate on a five-year adjustable-rate mortgage rose to 2.97 percent from 2.95 percent. The fee stayed at 0.5 point.

For a one-year ARM, the average rate edged up to 2.39 percent from 2.38 percent. The fee was stable at 0.5 point.

More in Herald Business Journal

Snohomish County’s campaign to land the 797 takes off

Executive Dave Somers announced the formation of a task force to urge Boeing to build the plane here.

Costco rises as results display big-box retailer’s resiliency

Their model has worked in the face of heightened competition from online, brick-and-mortar peers.

A decade after the recession, pain and fear linger

No matter how good things are now, it’s impossible to forget how the collapse affected people.

Under cloud of ethics probes, Airbus CEO Enders to step down

He leaves in 2019 after 14 years. Meanwhile, aircraft division CEO Fabrice Bregier leaves in February.

Tax reform needs the public’s input on spending priorities

The GOP tax plan is a good idea, but the next step should give us a voice on how taxes are spent.

For modern women, 98-year-old rejection letters still sting

In a stark new video, female Boeing engineers break the silence about past inopportunity.

Commentary: GM, Boeing fight a war of words over Mars

Boeing is strongly signaling how crucial deep-space exploration is to its future.

$4.99 sandwich promotion irks some Subway business owners

Management insists that “most franchisees support the promotion.”

Drone’s ease piercing of NY ‘no-fly’ zone underscores risks

An Army Black Hawk helicopter suffered damage to one of its rotor blades, but was able to land safely.

Most Read