Digital Access

Digital Access
Access nwherald.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, weekend and Sunday packages.

Text Alerts

Text Alerts
Stay connected to us wherever you are! Get breaking news updates along with other area information sent to you as a text message to your wireless device.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Plan your weekend and catch up on the news with our newsletters.
State and Nation Business

30-year mortgage rate falls to 4.31 pct.

WASHINGTON – Average rates on U.S. fixed mortgages fell for the second straight week, a welcome sign for homebuyers hoping to lock in lower rates that had spiked earlier this month.

Mortgage buyer Freddie Mac says the average on the 30-year loan fell to 4.31 percent. That's down from 4.37 percent last week but nearly a full percentage point higher than in early May. The rate reached a two-year high of 4.51 percent two weeks ago.

The average on the 15-year fixed loan declined to 3.39 percent, down from 3.41 percent last week

While rates remain low by historical standards, they have risen in recent weeks after the Federal Reserve indicated it might slow its bond purchases later this year. The bond purchases have kept long-term interest rates down.

.

Loading more