Rates for home loans fell to the lowest in a year as inflation cooled and investors braced for a slowing global economy.
The 30-year fixed-rate mortgage averaged 4.37% in the February 14 week, mortgage guarantor Freddie Mac said Thursday. That was down from 4.41% in the prior week. The 15-year adjustable-rate mortgage averaged 3.81%, down three basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.88%, down from 3.91%.
Those rates don’t include fees associated with obtaining mortgage loans.
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