Wednesday, June 19, 2013
Rate on 30-year mortgage hits record low
Associated Press
POSTED: 08:36 a.m. HST, Nov 15, 2012
LAST UPDATED: 08:42 a.m. HST, Nov 15, 2012
WASHINGTON >> Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover this year.
Mortgage buyer Freddie Mac says that the average rate on the 30-year loan dipped to 3.34 percent, the lowest on records dating back to 1971. That's down from 3.40 percent last week and the previous record low of 3.36 percent reached last month.
The average on the 15-year fixed mortgage also dropped to 2.65 percent. That's down from 2.69 percent last week and also a new record.
The average rate on the 30-year loan has been below 4 percent all year. It has fallen further since the Federal Reserve started buying mortgage bonds in September to encourage more borrowing and spending.
Rate on 30-year mortgage ticks up
Rate on 30-year mortgage dips slightly
Rate on 30-year mortgage ticks up
30-year mortgage rate falls to record low
Mortgage rates keep falling to record low levels
Rate on 30-year mortgage holds steady
U.S. 30-year mortgage rate falls to record low
Average rate on 30-year loan rises slightly
Rate on 30-year mortgage falls to record low
Rate on 30-year loan dips slightly
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