US 30-year mortgage rates fall from 7-year peak

NEW YORK: Interest rates on US 30-year fixed-rate mortgages declined from seven-year highs as Treasury yields have fallen because of concerns about a global trade war and anxiety about the political turmoil in Italy and Spain, Freddie Mac said on Thursday.

Thirty-year mortgage rates averaged 4.56 percent in the week ended May 31, down from the prior week's 4.66 percent which was the highest level since the week of May 5, 2011, the US mortgage finance agency said.