Fixed-rate mortgages drop again
- August 12, 2010
Fixed rate mortgages continue to set record lows, according to a survey by McLean-based Freddie Mac.
The 30-year fixed-rate mortgage averaged 4.44 percent, down from last week when it averaged 4.49 percent. Last year at this time, the rate averaged 5.29 percent.
The 15-year fixed-rate mortgage this week averaged a record low of 3.92 percent, down from last week when it averaged 3.95 percent. A year ago at this time, the 15-year rate averaged 4.68 percent.
The 30-year fixed-rate survey began in 1971, and the 15-year fixed-rate began in 1991.