US long-term mortgage rates declined this week to record low levels for the 15th time this. U.S. long-term mortgage rates declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic. Mortgage finance giant Freddie Mac said Thursday that the average rate on the 30-year fixed-rate home loan fell to 2.67 percent from 2.71 percent last week. The housing market continues as a rare bright spot in the stalled U.S. economy, as home-loan rates have trended downward through most of this year. Home sales have stalled, however, as the lack of available homes for purchase continues to stifle house hunters.-AP

Source: The Standard December 18, 2020 04:09 UTC