LeadStory
ConsumerYour MoneyPropertyEconomy

Newsy

U.S. mortgage rates see largest drop in decades

Newsy ยท
Newsy
Newsy

The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve officials have all but promised more rate hikes in the coming months.Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate fell to 6.61% from 7.08% last week.