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U.S. 30-year mortgage rates fall to lowest since Nov 2016: Freddie

Kitco News

(Reuters) - Borrowing costs on U.S. 30-year fixed-rate mortgages fell to their lowest level since November 2016 in line with the recent decline in bond yields because of trade and recession fears, Freddie Mac said on Thursday.

The interest rates on 30-year mortgages averaged 3.55% in the week ended Aug. 22, down from 3.60% a week earlier and 4.51% a year ago, the mortgage finance agency said.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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