Mortgage rates are at their lowest level in more than three years, potentially boosting the U.S. housing market as it enters the crucial spring selling season. The average rate on the 30-year fixed-rate mortgage, the most popular home loan in the U.S., dropped to 3.45%, according to data released Thursday by mortgage-finance giant Freddie Mac. That is down from 3.51% a week earlier and 4.41% this time last year. The average rate on the 15-year mortgage also dropped to a three-year low of 2.97%.

Source: Wall Street Journal February 08, 2020 10:41 UTC