US 30-Year Mortgage Rate Falls To Record 3.75 Pct.

By: AP
By: AP

WASHINGTON (AP) -- Average U.S. rates on 30-year and 15-year fixed mortgages dropped to record lows again this week, with the 15-year loan dipping below 3 percent for the first time ever. Low rates have helped brighten the outlook for home sales this year.

Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.75 percent. That's down from 3.78 percent last week and the lowest since long-term mortgages began in the 1950s.

The 15-year mortgage, a popular refinancing option, slipped to 2.97 percent. That's down from 3.04 percent last week.

Rates on the 30-year loan have been below 4 percent since early December. The low rates are a key reason the housing industry is showing modest signs of a recovery this year.


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 155962865 - kktv.com/a?a=155962865
Gray Television, Inc.