30-year mortgage rate at record low says Freddie Mac

By on Nov 11, 2011 in Business, Finance Comments
30 year mortgage rate

30-year mortgage rate
Image Credit: Freddie Mac

The 30-year mortgage rate falls down from 4 percent to 3.99 percent, according to a Freddie Mac report on Thursday, November 10, 2011.

The National Bureau of Economic Research announced that the 30-year Mortgage Rate dropped to a record low of 3.94 percent about five weeks ago.

Last week, reports said that the average rate on the 15-year fixed mortgage was down from 3.31 percent to 3.30 percent. The 15-year mortgage rate fell to a record of 3.26 percent about five weeks ago.

According to reports, mortgage rates is on a decline due to the shift of investors’ money to other Treasury because of uncertainty on the issue of the European debt crisis. Some analysts expect the crisis to worsen.



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