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Jason Taub - Realtor
Jason Taub - Realtor

Mortgage Rates Dip Lower; 30-year Loan at 2.86%

Freddie Mac: It’s down from 2.88% last week and close to the 2.87% the 30-year FRM was at this time last year. The 15-year FRM now stands at 2.12%.

WASHINGTON (AP) – Average long-term mortgage rates dipped lower this week as economic prospects continued muted amid a wave of new delta variant coronavirus cases. They remained under 3%.

Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage edged down to 2.86% from 2.88% last week. That’s very close to where the benchmark rate stood at this time last year, 2.87%. It peaked this year at 3.18% in April. Home loan rates fell in the early summer and then remained steady despite increases in inflation.

The rate for a 15-year loan, a popular option for homeowners refinancing their mortgages, fell to 2.12% from 2.19% last week.

Anxiety abounds that the highly contagious delta variant could cause the economic recovery from the pandemic to stall by reducing employment and dampening consumer spending. Vaccine hesitancy has been cited by economists as a significant factor after the government reported this month that employers added just 235,000 jobs in August, far short of the million or so added in each of the previous two months.

A new government report Thursday showed that the number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that the spread of the delta variant may have slightly increased layoffs.

Copyright © 2021 Associated Press. All rights reserved.

About Jason Taub - Realtor

Native South Floridian. Resident of downtown Fort Lauderdale for 8 years. Served on the Board of Directors for condo association of 400+ units. Extensive knowledge of the Fort Lauderdale area and Broward County. Buy, Sell, Rent - I've got you covered.

About D'Angelo Realty Group

From the inception of the downtown Fort Lauderdale condo market, consistently year after year, D’Angelo Realty Group has been the local market leader with a proven track record and longevity of listing and selling luxury estates in the greater East Fort Lauderdale area. Closing well over 1,200 condominium transactions and over $2 billion in real estate sales, the expertise within our full scale real estate brokerage will secure the highest market value for sellers and negotiate the most equitable price attainable for our buyers.

Contact Jason today for all of your real estate needs. Available 24/7.

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