Low Mortgage Rates Likely to Stay Down

Interest rates on home loans sank on uncertainty created by the British vote to exit the European Union and are likely to remain low in the next report.

During May, fixed interest rates on conventional 30-year mortgages that had loan amounts of $417,000 or less landed at an average of 3.89 percent.

The Federal Housing Finance agency, which reported the data, said conforming rates improved from a month previous, when they averaged 3.94 percent.

---

…read more

From:: Financing