WASHINGTON – Home loan rates declined to new depths again this week, as the benchmark 30-year rate remained below 4% for the sixth week in a row, according to Freddie Mac.
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The average for the 30-year, fixed-rate loan dipped to a new low of 3.89% this week, from 3.91% last week; while the average for the 15-year, fixed-rate mortgage fell to a record low of 3.16%, down from 3.23% last week.
ARM rates also moved to new depths, with the average for the five-year ARM falling to 2.82%, from 2.86% last week; and the average for the one-year ARM declining to 2.76%, from 2.80%.
“Mortgage rates eased slightly this week to all-time record lows following mixed indicators in the labor market,” said Frank Nothaft, chief economist for Freddie Mac.
