Fixed mortgage rates moved lower this week on news of weakness in the labor markets, with Freddie Mac saying lenders were offering conventional 30-year loans at an average of 3.66%, down from last week’s 3.7%
Some financial experts say racing to retire “mortgage-free” isn't always the best strategy.
We saw mortgage rates pull back after some soft economic data on manufacturing, home construction and consumer spending. So even though the Federal Reserve is laying the groundwork for the eventuality of interest-rate hikes, any economic softness just pushes the timetable further out.
Long-term interest rates declined this week, with Freddie Mac saying lenders were offering conventional 30-year mortgages at an average of 3.78%, down from 3.86% a week ago.
Lenders were offering 30-year fixed mortgages to solid borrowers this week at an average of 4.01%, a Freddie Mac survey found, down a hair from 4.02% last week.