Mortgage Rates Drop Below 4 %
The average rate on the 30 Year Fixed Mortgage fell below 4 percent for just the second time in history. Freddie Mac said Today the rate on the 30 Year Fixed Mortgage fell to 3.99%, down from 4 percent last week. Five weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research. Mortgage Rates track the yield on 10-Year Treasury noes, which fell this week as investors shifted money into safer Treasuries amid fears Europe’s debt crisis could worsen.
