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U.S. mortgage rates move lower

English.news.cn   2014-06-20 09:22:53

WASHINGTON, June 19 (Xinhua) -- U.S. fixed mortgage rates edged down slightly this week amid a slowdown in the housing recovery, mortgage buyer Freddie Mac said Thursday.

The 30-year fixed-rate mortgage (FRM) edged down to 4.17 percent in the week ending Thursday from 4.20 percent in the previous week, the U.S. mortgage giant said in its Primary Mortgage Market Survey.

The 15-year FRM, a popular guide for those looking to refinance, fell slightly to 3.30 percent from 3.31 percent in the prior week, the survey showed.

The Commerce Department said Tuesday that U.S. home construction and building permits fell more than expected in May, suggesting the housing recovery will likely remain slow for a while.

Many economists expected the U.S. economic growth to bounce back in the second quarter after a weak winter, but the recent slowdown in the housing recovery has become a fresh concern.

The Federal Reserve on Wednesday largely cut its growth forecast for the world's largest economy this year. The central bank predicted the U.S. economy would expand at a rate of 2.1 percent to 2.3 percent this year, down from its last projection of 2.8 percent to 3.0 percent given in March.

Editor: Bi Mingxin
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