Rates for home loans fell for the fourth straight week, and the benchmark mortgage product matched its low for 2019, as financial market turmoil offered a reprieve for house hunters.
The 15-year fixed-rate mortgage averaged 3.51%, down from 3.53%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.68%, up from 3.66%. The housing market has pushed through the soft spot it encountered in 2018, but some old familiar headwinds are capping growth now. Sales of previously-owned homes have risen in only one month so far in 2019, the National Association of Realtors said Tuesday, but homes are flying off the market — a sign that more inventory would likely result in higher sales volume.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: