McLean, VA (AP) – Average long-term mortgage rates were unchanged from last week as the economy continues to show encouraging signs, even as delta-related coronavirus hospitalizations remain high.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year mortgage is 2.87% as demand for homes remains stable. The base rate, which peaked this year at 3.18% in April, was 2.93% this time last year.
The rate on a 15-year loan, a popular mortgage refinancing option for homeowners, climbed to 2.18% from 2.17% last week.
There is growing concern that the highly contagious variant of the delta could spark the current fruitful economic recovery.
Last week, the government reported that the U.S. gross domestic product – total production of goods and services – rose 6.6% year-on-year between April and June, but many economists downgraded their estimates of the U.S. economy’s growth from April to June. … current quarter and full year.
In another good sign that the economy is still outstripping the delta option, the government said Thursday that the number of Americans who filed for jobless benefits fell to 340,000 last week, a pandemic low.