Mortgage buyer Freddie Mac said Thursday that the average rate for aWhile the intention may be to spur home sales – it turns out that the lower interest rate hasn’t been turning homes, but refinancing is at its highest rate since May 2009.
30-year fixed loan was 4.36 percent this week, down from 4.42 percent last week.
That's the lowest since Freddie Mac began tracking rates in 1971.
The average rate on 15-year fixed loan dropped to 3.86 percent from
3.90 percent the previous week. That's the lowest on records starting in
1991.
Submitted by Minnesia home buyer agent, Mary Rugani
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