Mortgage Rates Hit 2011 LOW

Rates Hit Another 2011 Low


With employers adding far fewer private-sector jobs than anticipated, the latest Freddie Mac data shows that home loan rates fell for an eighth consecutive week to a new low for the year. The 30-year fixed mortgage averaged 4.49 percent, down from 4.55 percent the prior week. Interest on 15-year fixed loans, meanwhile, dipped to 3.68 percent from 3.74 percent. Five-year adjustable-rate mortgages sank to 3.28 percent from 3.41 percent, and one-year ARMs dropped to 2.95 percent from 3.13 percent.

[SOURCES: Freddie Mac; Information, Inc.]