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Jason Taub - Realtor
Jason Taub - Realtor

Mortgage Rates Jump to 3.17%, Highest Since June

That’s up from 3.09% in the prior week – A year ago, it was 3.5%. While rising, rates are still near historic lows as the Fed keeps interest rates near zero for now.

McCLEAN, Va. (AP) – U.S. long-term mortgage rates jumped to their highest level since June, though they still remain near historic lows.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year fixed-rate home loan rose to 3.17% from 3.09% the previous week. One year ago, the benchmark rate stood at 3.5%.

The average rate on 15-year fixed-rate loans, popular among those seeking to refinance their mortgages, increased to 2.45% from 2.40% last week. It was 2.92% a year ago.

Economists have expected modest increases in home-loan rates this year, though they likely will remain low while the Federal Reserve keeps interest rates near zero until the economy recovers from the coronavirus pandemic.

Record-low lending rates have prodded buyers into the housing market, which has been one of the strengths of the U.S. economy. But a shortage in the supply of homes remains a problem and has pushed prices higher.

Also Thursday, the government reported that the number of people seeking unemployment benefits fell sharply last week to 684,000, the fewest since the pandemic erupted a year ago and a sign that the economy is improving. It is the first time that weekly applications for jobless aid have fallen below 700,000 since mid-March of last year.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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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