Rate Update

Freddie: FRM Rates at New Lows



Freddie Mac said fixed mortgage rates dipped to new record lows last week amid indicators of higher consumer confidence and lower wholesale prices. Rates on 30-year fixed-rate mortgages averaged 3.34 percent last week, down from 3.40 percent the previous week and 4.00 percent a year ago. Rates on 15-year FRMs averaged 2.65 percent, down from 2.69 percent the previous week and 3.31 percent last year.---- ICBA