Getting your player ready...
NEW YORK — Rates on 30-year, fixed-rate mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.
The average rate for 30-year, fixed-rate loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That’s the lowest on records dating to 1971 and down from 4.32 percent the previous week.
The average rate on 15-year, fixed-rate loans dropped to 3.72 percent from 3.75 percent. That was the lowest on records dating to 1991.
Rates have mostly fallen since the spring as investors shifted money into the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields. The Associated Press
