May 30, 2019

 

30-year fixed mortgage rates fell for the fifth week in a row, sending the average rate below 4% for the first time in nearly a year and a half. Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage fell to 3.99% from 4.06% last week. The average fee for this rate was unchanged at 0.5 point. Last year this average rate stood at 4.56%.

Nervous investors continue to shift money from volatile stocks to the bond market sending bond rates lower. The continuing trade war between the U.S. and China hammered stock prices this week again keeping volatility high and longer-term interest rates low.