August 8, 2019 / 3:58 PM / 10 days ago

U.S. 30-year mortgages hit lowest since Nov 2016 - Freddie Mac

Aug 8 (Reuters) - Borrowing costs on U.S. 30-year fixed-rate mortgages fell to their lowest level since November 2016 in step with the dramatic drop in bond yields due to trade and economic worries, Freddie Mac said on Thursday.

The interest rates on 30-year mortgages averaged 3.60% in the week ended Aug. 8, down from 3.75% the week before and 4.59% a year earlier, the mortgage finance agency said.

Reporting by Richard Leong

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