Mortgage rates steady

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Long-term U.S. mortgage rates didn't budge this week, remaining at historically low levels that continue to lure prospective home buyers.

FreddieMortgage giant Freddie Mac said the average for the benchmark 30-year fixed-rate mortgage was 3.43 percent, unchanged from last week.

The average rate is down from 3.84 percent a year ago, and is close to its all-time low of 3.31 percent in November 2012.

The 15-year fixed mortgage rate stayed at 2.74 percent, according to Associated Press.

Financial markets are awaiting a speech by Federal Reserve Chair Janet Yellen Friday at an annual conference of central bankers for clues on a possible interest-rate increase. The Fed is expected to hold off raising rates at its meeting next month, but Yellen's comments may provide a hint on the likelihood of a future increase.

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John Hielscher

John Hielscher is a business reporter for the Herald-Tribune Media Group. Contact him by phone at (941) 361-4875 or by email
Last modified: August 25, 2016
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