NEW YORK (Reuters) - Interest rates on U.S. 30-year, 15-year fixed-rate mortgages fell to their lowest in over 13 months as bond yields have decreased on worries about a slowing economy and U.S.-China trade tensions, Freddie Mac said on Thursday.
Thirty-year mortgage rates averaged 4.28 percent in the week ended March 21, the lowest since 4.22 percent in the week of Feb. 1, 2018. This was below the 4.31 percent a week earlier, the mortgage finance agency said.
The average interest rate on 15-year mortgages fell 0.05 percentage point to 3.71 percent, the lowest since the Feb. 1, 2018 week.
Reporting by Richard Leong; Editing by Richard Chang