U.S. long-term mortgage rates are near historically low levels this week with the average on the benchmark 30-year loan falling to its lowest level since November 2016.
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Steady hiring is supposed to fire up economic growth. Cheap gasoline is supposed to power consumer spending. Falling unemployment is supposed to boost wages. Low mortgage rates are supposed to spur home buying. America's economic might is supposed to benefit its workers. Yet all those common assumptions about how an economy thrives appear to have broken down during the first three months of 2015.Read More »
U.S. builders started work in August on the most single-family homes in six months and requested permits to build even more in future months. The figures suggest housing remains a driver of economic growth despite higher mortgage rates.Read More »