Average US rate on 30-year mortgage falls to 3.79 percent

  • 2/10/2023
  • 16:11
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Washington, Rabi'II 18, 1437, January 28, 2016, SPA -- Average long-term U.S. mortgage rates fell this week for a fourth straight week amid persisting turmoil in stock markets and global economic worries, AP reported. Mortgage buyer Freddie Mac says the average rate on a 30-year fixed-rate mortgage slipped to 3.79 percent from 3.81 percent a week earlier. That means it stays below the symbolically significant 4 percent level. The rate has increased from its 3.66 percent average a year ago but remains well below its historic average of 6 percent. The average rate on 15-year fixed-rate mortgages declined to 3.07 percent from 3.10 percent. The Federal Reserve sounded a note of concern Wednesday about how global pressures could affect a slowing U.S. economy. Fed policymakers kept a key interest rate unchanged following their meeting this week. --SPA 19:00 LOCAL TIME 16:00 GMT www.spa.gov.sa/w

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