Mortgage Rates Tumble in Latest Week

In the wake of Treasury-bond volatility, long-term mortgage interest rates fell in the past week, according to Freddie Mac. The average rate on a 30-year fixed-rate mortgage dropped to 3.69% with an average 0.5 point, down from 3.78% the week before. A year ago, the rate was more than a percentage point higher at 4.94%. Even though rates dropped this week, rates have risen six out of the last nine weeks due to “modestly better economic data and trade related optimism.”