NEW YORKâThe average rate on a 30-year, fixed-rate mortgage in the U.S. last week matched the record low set seven years ago.
According to Bankrate.com, the average rate on the 30-year fixed was 3.36% at the end of last week, which is the same as the low-water mark it hit in December of 2012. Analysts have largely attributed the decline in rates to the decline in Treasury yields that was put in motion by the Brexit vote in the U.K.
Freddie Mac also reported that its analysis shows the rate on the 30-year mortgage last week was close to a record low, at 3.48%.