Mortgage rates have hit record lows this week, the U.S. Federal Home Loan Mortgage Corp. said Thursday. The average interest rate for a 30-year and 15-year mortgage rolled down to record low rates.
Freddie Mac said interest rates for 30-year, fixed-rate contracts dropped from 4.57 percent with an average of 0.7 points, to 4.56 percent, a record low for the 39-year interest rate survey.
Average interest rates for 15-year, fixed-rate mortgages also hit a record, falling to 4.03 percent from last week's average of 4.06 percent. Points for 15-year mortgages also averaged 0.7 during the week.
Freddie Mac Vice President and Chief Economist Frank Nothaft said the change "echoes the recent signs of weakening confidence in the strength of the economy, particularly the housing and consumer sectors."
