The U.S. average 30-year mortgage rate was unchanged this week at a nearly 10-month low, the Associated Press reports. The news may provide some encouragement for prospective homebuyers who have been contending with obstinately high home financing costs.
Mortgage buyer Freddie Mac said Thursday that the long-term rate was unchanged from last week at 6.58%, while one year ago, it averaged 6.46%.
Borrowing costs on 15-year fixed-rate mortgages headed lower, with the average rate falling to 5.69% from 5.71% last week. One year ago, it was 5.62%.
