Mortgage rates are falling according to a Freddie Mac survey.
Freddie Mac’s Primary Mortgage Market Survey shows 30-year fixed-rate mortgage rates fell this week to an average of 4.71 percent, matching the lowest rate recorded in the past year. Meanwhile, 15-year fixed hit a new yearly low of 3.89 percent.
The 30-year rate is down from 4.78 percent last week. At this time last year, the 30-year rate average was 5 percent.
The 15-year rate averaged 3.97 percent last week and 4.36 percent this time last year.
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