Rate on 30-year mortgage hits record 3.34 pct.
WASHINGTON – Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover this year.
Mortgage buyer Freddie Mac says that the average rate on the 30-year loan dipped to 3.34 percent, the lowest on records dating back to 1971. That's down from 3.40 percent last week and the previous record low of 3.36 percent reached last month.
The average on the 15-year fixed mortgage also dropped to 2.65 percent. That's down from 2.69 percent last week and also a new record.
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