Mortgage Rates for 30-Year U.S. Loans Fall to Record-Low 3.87%
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Rates for 30-year U.S. mortgages declined to the lowest level on record after the Obama administration announced measures to make it easier for homeowners to reduce their monthly payments by refinancing.
The average rate for a 30-year fixed loan fell to 3.87 percent, the lowest in records dating to 1971, from 3.98 percent in the week ended today, Freddie Mac said in a statement. The average 15-year rate dropped to 3.14 percent from 3.24 percent, according to the McLean, Virginia-based mortgage-finance company.