Mortgage rates fall again, 30-year near record low

Print
Email
|

by Associated Press

NWCN.com

Posted on August 11, 2011 at 7:03 AM

Updated Thursday, Aug 11 at 7:04 AM

WASHINGTON -- Fixed mortgage rates fell to at or near record lows. That's good news for the few who can afford to buy a home or are able to refinance.

Freddie Mac says the average rate for the 30-year fixed mortgage fell to 4.32 percent this week from 4.39 percent. The 30-year loan hit a record low of 4.17 percent in mid-November.

The average rate on a 15-year fixed mortgage, a popular refinancing option, fell to a record low of 3.50 percent, from last week's record rate of 3.54 percent.

Mortgage rates tend to track the yield on the 10-year Treasury note. A weakening U.S. economy has led many investors to shift money from stocks to bonds, which are seen as safer bets. That has pushed Treasury yields to historic lows.
 

Print
Email
|