U.S. rate on 30-year mortgage: 2.83 pct., new record
WASHINGTON – Average rates on fixed mortgages fell again to record lows, creating more incentive for buyers to enter the recovering housing market.
Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.53 percent. That's down from 3.56 percent last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, declined to 2.83 percent, below last week's previous record of 2.86 percent.
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