WASHINGTON (AP) – Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week.
The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify.
Mortgage buyer Freddie Mac says the average rate on 30-year loans dipped to 3.79%. That’s down from 3.83% last week and the lowest since long-term mortgages began in the 1950s.
The 15-year mortgage, a popular option for refinancing, declined to 3.04%. That’s down from last week’s previous record of 3.05%.
Rates on 30-year loans have been below 4% since early December. But so far, those cheap rates haven’t been enough to ignite home sales.
Read the full article on USAToday.com.