Mortgage rates drop to historic lows
Mortgage LoanMarket concern over the strength of the economic recovery took Treasury yields to new depths, causing both 30- and 15-year fixed-rate mortgages to continue tumbling to historic lows. The Freddie Mac survey showed 30-year FRM averaged 3.49% for the week ending Thursday, a record low from last week’s 3.53%. Last year at this time, the 30-year FRM averaged 4.55%. The 15-year FRM, a popular refinancing choice, also set a new record, averaging 2.8%, down from last week‘s average of 2.83%. A year ago, the average rate for a 15-year FRM […]
