The average U.S. fixed rate for a 30-year mortgage fell to 3.6% this week, a three-month low.
That’s 5 basis points below last week and 85 basis points below the 4.45% of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.
Sam Khater, Freddie Mac’s chief economist, said mortgage rates now are about a quarter of a percentage point above historic all-time lows. The low financing costs are providing a boost to housing demand, he said.
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