US Rate On 30-Year Mortgage Declines To 3.54 Pct.

By: Associated Press
By: Associated Press

WASHINGTON (AP) -- Average U.S. rates on fixed mortgages fell this week and remained near historic lows, a trend that has supported a recovery in housing.

Freddie Mac says the average rate for the 30-year loan fell to 3.54 percent from 3.63 percent last week. That's near the 3.31 percent reached in November, which was the lowest on records dating to 1971.

The average rate on the 30-year loan has been below 4 percent now for a full year.

The average rate on the 15-year fixed mortgage slipped last week to 2.72 percent from 2.79 percent last week. The record low is 2.63 percent.

Low mortgage rates are spurring more home purchases and refinancing. That's helped the broader economy. Increased sales are also pushing home prices higher.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 199380351 - kktv.com/a?a=199380351
Gray Television, Inc.