After holding steady last week, U.S. mortgage rates fell significantly to a level not seen since November 2016, according to Freddie Mac.
The 30-year fixed mortgage averaged 3.6 percent for the week ending Aug. 8, down from 3.75 percent last week. A year ago, mortgage rates stood at 4.59 percent.
Low mortgage rates help propel U.S. home sales and the refinance market.
“There is a tug of war in the financial markets between weaker business sentiment and consumer sentiment,” said Sam Khater,…
