Tuesday, December 12, 2017
 
 
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US rate on 30-year mortgage hits record 3.84 pct.
Average US rate on 30-year fixed mortgage hits record low of 3.84 percent; 15-year also record
By The Associated Press

WASHINGTON (AP) ' Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week, offering more incentive for Americans to buy or refinance homes.

Mortgage buyer Freddie Mac says the rate on the 30-year loan fell to 3.84 percent, the lowest since long-term mortgages began in the 1950s. That's below the previous record rate of 3.87 percent reached in February.

The 15-year mortgage, a popular option for refinancing, dropped to 3.07 percent, also a record. The previous record of 3.12 percent hit last week.



Mortgage rates have been below 5 percent for the past year. Yet homes sales have slumped and remain well below healthy levels.


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