WASHINGTON – Mortgage rates declined again this week to near-record lows, after rising for the past three weeks, according to Freddie Mac.
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The average for the 30-year loan slipped to 3.90% this week, from 3.95% last week; while the average for the 15-year mortgage fell to 3.17%, from 3.19%.
ARM rates were mixed, with the average for the five-year ARM rising slightly to 2.83%, from 2.80%; and the average for the one-year ARM dipping to 2.72%, from 2.73%.
“Fixed mortgage rates bottomed out in January and February of this year which is helping to spur the housing market,” said Frank Nothaft, chief economist for Freddie Mac.
