30 Year Mortgage Rates Fall Below 5%

For the first time ever, Freddie Mac’s weekly rate survey show 30-year mortgage rates averaging less than 5%.  30-year rates fell for the eleventh straight week to 4.96%, down from from 5.01% a week ago.  A year ago the rate was 5.69%.

15-year fixed rate mortgages, a popular choice for refinancing, rose to 4.65%, up from 4.62% a week ago.

The U.S. Treasury Department and the Federal Reserve have been buying up mortgage backed securities to drive mortgage rates down.

Related posts:

1. 30 Year Rates Drop Below 6 %
2. Federal Reserve Move Lowers Mortgage Rates Below 5%
3. Mortgage Rates Jump
4. Mortgage Rates Rise as Foreclosures Increase
5. Higher Mortgage Rates Possible

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