In this Sept. 25, 2019 file photo, a realty company's signs rest on several lawns in front of newly constructed houses in Brandon, Miss.. Long-term U.S. mortgage rates fell, Thursday, June 18, 2020, as the benchmark 30-year home loan reached a new all-time low. Mortgage buyer Freddie Mac reports that the average rate on the key 30-year loan declined to 3.13% from 3.21% last week. (AP Photo/Rogelio V. Solis, File)
Long-term U.S. mortgage rates fell this week as the benchmark 30-year home loan reached a new all-time low.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year loan declined to 3.13% from 3.21% last week. It was the lowest level since Freddie began tracking average rates in 1971. A year ago, the rate stood at 3.84%.
The average rate on the 15-year fixed-rate mortgage eased to 2.58% from 2.62%.
In recent weeks, signs have pointed to the economy appearing to be slowly recovering from the devastation of the coronavirus pandemic, with more businesses partially reopening. The housing market has shown strength and robust homebuying demand, but it may be difficult to sustain because of the tight supply of homes available for sale, said Freddie Mac chief economist Sam Khater.
The outlook for the economy and housing will be affected by prospects for a vaccine for the virus and government relief measures and policies, Khater noted.
The government reported Thursday that about 1.5 million laid-off workers applied for U.S. unemployment benefits last week, a historically high number, even as the economy increasingly reopens and employers bring some people back to work. The latest figure marked the 11th straight weekly decline in applications since they peaked at nearly 7 million in March.
Thanksgiving travel is set to smash records as millions fly, drive, and ride despite FAA disruptions and economic uncertainty. Here’s what you need to know.
AI, BNPL and new digital tools are reshaping holiday shopping. PayPal’s Michelle Gill shares survey insights, tech trends, and tips for smarter spending in 2025
'The Chair Company' blends sharp satire with workplace conspiracy. Lake Bell joins us to talk its corporate themes, quirky characters, and why viewers love it!
Nvidia smashes earnings with record-breaking revenue and soaring Blackwell demand as shares slip this morning, Barron’s senior writer Adam Levine unpacks it all
Jeff Wagoner, CEO of Outrigger Hospitality Group, discusses the company’s coral preservation initiatives and sustainable practices at their hotels and resorts.
Dena Jalbert, Head of M&A at Align Advisory, discusses the state of mergers and acquisitions in 2025 and beyond, highlighting key trends and opportunities.
Kim Perell, author and entrepreneur, shares actionable tips and tricks to help current and aspiring entrepreneurs kick off 2026 with confidence and momentum.
