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US mortgage rates slide below 4% as the trade war buffets markets
Rates for home loans fell again, taking the benchmark product below a key threshold, as global economic concerns rocked markets. The 30-year fixed-rate mortgage averaged 3.99% in the May 30 week, down from 4.06%, Freddie Mac said Thursday. That marked a 16-month low for the popular product, which has eked out a weekly rise only six times so far in 2019. The 15-year fixed-rate mortgage averaged 3.46%, down from 3.51%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.60%, down 8 basis points. Rates have tumbled for the past few weeks, in line with the broader bond market, on concerns about a ... (full story)