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04 June . 2019

30-year Mortgage Interest Rates Drop Below 4 Percent

The average rate on a 30-year fixed rate mortgage fell to 3.99% down from 4.06%, the lowest rate since January 2018. As school lets out and families set their sights on purchasing a new home, these new rates give lenders cheaper borrowing costs and boost purchasing power for borrowers. Consumer confidence about the U.S. economy coupled with rising wages creates an opportunity for previously sidelined home shoppers to jump back in the search for a new house.