Mortgage Rates Drop; 15-Year Rate Sets Another Record Low
The average interest rate on 30-year, fixed-rate mortgages fell to 3.37 percent this week from 3.39 percent last week, Freddie Mac reported yesterday. A year ago, rates for 30-year mortgages averaged 4.11 percent.
Meanwhile, the average rate on 15-year, fixed-rate mortgages fell to a record low of 2.66 percent this week from 2.70 percent last week. A year ago, rates for 15-year mortgages averaged 3.38 percent.
--ABA Daily Newsbytes
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