Mortgage Rates Hit Decades-Low Of 4.19 Percent

champion gruen pic billboard tlsRates on 30-year mortgages fell to 4.19 percent, the lowest level in decades. They were pushed down by lower Treasury bond yields. Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on corporate debt.

As a result, the average rate for 30-year fixed loans dropped to the lowest level on records dating back to 1971. It’s down from 4.27 percent the previous week.

The average rate on 15-year fixed loans fell to 3.62 percent, the lowest on records dating back to 1991.

Rates have mostly fallen since spring as investors shifted money into the safety of Treasury bonds. That demand lowers their yields, which mortgage rates tend to track. AP

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5 COMMENTS

  1. Meridian does not only have great rates but their service, professionalism and products are just way and beyond their competition. Please refer to yesterday’s article all the beautiful comments speak for itself.

  2. I’ve also worked in the past with ark mortgage and was extremely satisfied. The loan processors were particularly knowledgable & helpful.

  3. Fewer people in Lakewood should buy houses. They should rent. Even with the low rates people can’t pay what they owe. Let’s stop living above our means.

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