Economic uncertainty drove mortgage rates down, according to Freddie Mac data released Thursday, with the popular 30-year reaching its lowest level in nearly three years.

The 30-year fixed-rate average fell to 3.55% from 3.60% — the lowest since November 2016 — with an average 0.5 point. (Points are fees – equivalent to 1% of the loan amount — paid to a lender on top of the interest rate.) It averaged 4.51% a year ago.

 

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Credit: philly.com by Michele Lerner, The Washington Post