Pursuits
U.S. Homebuyers Get Rate Reprieve Amid China’s Turmoil
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Financial turmoil in China is turning into a boon for U.S. homebuyers as mortgage rates tumble to three-month lows.
The average rate for a 30-year fixed mortgage fell to 3.83 percent on Wednesday, down from 4.26 percent three weeks ago and the lowest since May 8, according to data from Bankrate Inc. The average 15-year fixed rate declined to 3 percent, also a three-month low. Jumbo borrowing costs, for high-balance home loans, are at 4.26 percent, the lowest since early June.