WASHINGTON (AP) — The normal rate on a 30-year fixed mortgage hovered above a record low for a fourth true week. But inexpensive mortgage rates have finished small to boost home sales or refinancing.
Freddie Mac says a rate on a 30-year bound loan fell to 3.98 percent from 4 percent a prior week. Seven weeks ago, it forsaken to a record low of 3.94 percent, according to a National Bureau of Economic Research.
The normal rate on a 15-year bound debt edged down to 3.3 percent from 3.31 percent. Seven weeks ago, it too strike a record low of 3.26 percent.
Rates have been next 5 percent for all though dual weeks this year. Yet this year could be a misfortune for home sales in 14 years.
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