US long-term mortgage rates fall to low; 30-year at 2.81%

WASHINGTON (AP) — U.S. long-term mortgage rates fell this week as the key 30-year loan reached a new all-time low for the tenth time this year.

Home loan rates have marked a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year mortgage fell to 2.81% from 2.87% last week. By contrast, the rate averaged 3.69% a year ago.

The average rate on the 15-year fixed-rate mortgage declined to 2.35% from 2.37%.

The low borrowing rates have bolstered demand by prospective homebuyers. But the demand has been constrained by the economic hardship brought by the coronavirus pandemic as well as the scarcity of available homes for sale.

In the latest sign that layoffs remain a hindrance to the economy’s recovery from the pandemic recession, the government reported Thursday that the number of Americans seeking unemployment benefits rose last week by the most in two months to a historically high level.

8 Consumer Staples Stocks That Offer Good Value

Chances are you’ve been spending more time at home than usual. You may also be spending more of your budget on some creature comforts that might normally make it on your shopping list. These are the consumer staples that you rely on every day.

And that’s what makes the consumer staples one of the most interesting sectors for investors.

For starters, consumer staples are defensive stocks. They are stocks that tend to perform well when the economy is doing well or when it is performing poorly. That’s because they are essentials like toilet paper, packaged foods and beverages, even alcohol and tobacco.

Now the opposite side of this coin is that the price you pay for these items is somewhat fixed. And that means these stocks don’t fit the definition of growth stocks. But the Covid-19 pandemic has changed that equation a little bit. It’s not that people are necessarily paying more for these items. But they are buying more of these items.

And this means that consumer staples are having their moment in the sun. However, it also means that right now there are several consumer staples that are looking a little pricey. But if you know anything about these stocks, you know that many of these companies are mature companies that pay a respectable, and safe, dividend.

Fortunately, there are still several stocks that appear to have room to grow and offer a nice dividend for investors.

View the “8 Consumer Staples Stocks That Offer Good Value”.

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