Fixed and adjustable-rate mortgages sank to new lows for the year, continuing a downward spiral for the eighth straight week, Freddie Mac reports in its weekly mortgage market survey.

 

Rates for the week:

30 year fixed rate mortgage- averaged 4.49 percent whereas last week it was 4.5. A year ago they were 4.72

15 year fixed rate mortgage rates-  averaged 3.68 percent. This is the lowest level since November 2010!!! A year ago they were 4.17

5 year adjustable rate mortgages- averaged 3.28 percent and last week it was 3.41 percent. A year ago they were 3.92 percent.

 

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