Mortgage Rate for 30-Year U.S. Loans Falls to Record
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U.S. mortgage rates dropped to a record low, the first decline in a month, as the Federal Reserve began a program to buy Treasury bonds to support the economy.
The rate for a 30-year fixed loan fell to 4.17 percent in the week ended today from 4.24 percent, Freddie Mac said in a statement. That was the lowest level in the McLean, Virginia- based mortgage-finance company’s records dating to 1971. The average 15-year rate declined to 3.57 percent from 3.63 percent.