Economic uncertainty drove mortgage rates down, according to Freddie Mac data released Thursday, with the popular 30-year reaching its lowest level in nearly three years.
The 30-year fixed-rate average fell to 3.55% from 3.60% -- the lowest since November 2016 -- with an average 0.5 point. (Points are fees - equivalent to 1% of the loan amount -- paid to a lender on top of the interest rate.) It averaged 4.51% a year ago.
Credit: philly.com by Michele Lerner, The Washington Post
Councilman Squilla introduces bills to make it easier to reuse Philadelphia’s historic buildings
