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Mortgage Rates Inch Back Down to 2014 Low

Fixed mortgage rates for most home loans fell slightly this week to once again hit their 2014 low. The average interest rate on a 30-year fixed mortgage dipped to 4.12% from 4.14% last week, according to the latest survey from mortgage buyer Freddie Mac. It was at 4.40% a year ago. Meanwhile, the average rate on a 15-year fixed loan dropped to 3.24% from 3.27% last week. At this time last year it averaged 3.44%. “Mortgage rates were down slightly amid a week of light economic reports,” Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement. “Of the few releases, retail sales were virtually unchanged in July after a 0.2% increase in June, ending five months of increases. Excluding motor vehicles and parts, retail ...

Mortgage Rates Inch Down Slightly

Fixed mortgage rates for most home loans fell slightly this week to remain near historic lows. The average interest rate on a 30-year fixed mortgage dipped to 4.13% from 4.15% last week, according to the latest survey from mortgage buyer Freddie Mac. It was at 4.37% a year ago. Meanwhile, the average rate on a 15-year fixed loan dropped to 3.23% from 3.24% last week. At this time last year it averaged 3.41%. “Mortgage rates were little changed amid a week of light economic reports,” said Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement. “Of the few releases, industrial production rose by 0.2% in June, below the market consensus forecast. Also, the producer price index for final demand rose 0.4% in June, ...