Mortgage Rates on 30-Year U.S. Loans Fall to 5.07%
U.S. mortgage rates fell this week after a month of increases coinciding with the Federal Reserve ending its purchases of home loan debt.
Rates for 30-year fixed loans dropped to 5.07 percent for the week ended today from 5.21 percent, mortgage finance company Freddie Mac said in a statement. The rate touched an eight-month high last week after the central bank on March 31 ended a program to buy $1.25 trillion of mortgage-backed securities.
“There was a little bit of a hiccup,” said Donald Rissmiller, chief economist at Strategas Research Partners in New York. “When the dust is settled, the Fed has been able to back away from the market without too many problems.”