Mortgage rates continue to reach new lows
- July 8, 2010
The average rate for a 30-year, fixed-rate mortgage dipped 0.1 percentage point to 4.57 percent last week, according to Freddie Mac.
This is another record low in Freddie Mac’s 39-year history of tracking average mortgage rates. For the same week a year ago, the average rate was 5.2 percent for a 30-year, fixed-rate mortgage.
The 15-year fixed-rate mortgage was up slightly last week at 4.07 percent, compared with 4.04 percent the week before.
“With mortgage rates falling to historic lows, refinance activity has been strong over the past three months,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.