Long-term mortgage rates fell to a new low this week, with a 30-year fixed-rate mortgage averaging 4.71 percent in the week ending Dec. 3, the lowest rate since at least 1971, when Freddie Mac started keeping track.
A year ago, 30-year fixed-rate mortgages averaged 5.53 percent.
For homeowners who can afford a higher monthly payment, 15-year fixed-rate mortgages are even lower, averaging 4.27 percent, also a new low.
Thu, Dec 3, 2009
Crisis in the Valley