Mortgages: Rates Again Approaching Record Lows
NEW YORK – Mortgage rates continue to slide toward near-record lows.
Freddie Mac reported its Primary Mortgage Market Survey last week found the average rate on 30-year fixed mortgages had fallen to 4.32%, down from 4.39% one week earlier and just 15 basis points away from the record low of 4.17% set in November 2010.
Rates on 15-year fixed mortgages set a new record for the second week in a row, falling to 3.5%, down from 3.54% last week.
Some analysts, meanwhile, say rates could go even lower, following Treasury yields on the way down.