Rates hit a 4-month low as housing market stagnates

Rates for home loans declined for the third straight week, in line with the broader bond market, but not in time to help much of the housing market. The 30-year fixed-rate mortgage averaged 4.51% in the Aug. 23 week, down two basis points, according to Freddie Mac’s weekly survey. That was the lowest point for the popular product since mid-April. The 15-year fixed-rate mortgage, meanwhile, averaged 3.98%, down from 4.01%.

READ MORE

Source: Market Watch