US Average Mortgage Rates Continue To Fall; 30-Year At 2.90%

WASHINGTON (AP) — Mortgage rates continued to fall this week, tracking a decline in yields on Treasury securities as the bond market continues to signal concerns over the strength of the recovery from the pandemic recession. Mortgage buyer Freddie Mac reports that the average for the 30-year home loan eased to 2.90% from 2.98% last week. The rate for a 15-year loan fell to 2.20% from 2.26%. Freddie Mac economists expect economic growth to gradually push rates higher. The bond market has been signaling concerns that the recovery may have peaked and is now leveling off to a steadier pace.