KAKE - Money - Headlines

US Rate On 30-Year Mortgage Hits Record 3.84 Percent

By: Associated Press
By: Associated Press

Stay up-to-date with KAKE News:

Thursday, May 3, 2012

Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week, offering more incentive for Americans to buy or refinance homes.

Mortgage buyer Freddie Mac says the rate on the 30-year loan fell to 3.84 percent, the lowest since long-term mortgages began in the 1950s. That's below the previous record rate of 3.87 percent reached in February.

The 15-year mortgage, a popular option for refinancing, dropped to 3.07 percent, also a record. The previous record of 3.12 percent hit last week.

Mortgage rates have been below 5 percent for the past year. Yet homes sales have slumped and remain well below healthy levels.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 150004145 - kake.com/a?a=150004145