WASHINGTON (AP) - The average U.S. rate on a 30-year fixed mortgage slipped this week and stayed near its record low, a trend that's helped boost home sales and refinancing.
Mortgage buyer Freddie Mac says the rate on the 30-year loan declined to 3.39 percent from 3.41 percent last week. Four weeks ago, the rate touched 3.36 percent, the lowest level on records dating to 1971.
The average on the 15-year fixed mortgage, often used for refinancing, fell to 2.70 percent. That's down from 2.72 percent last week and close to the record low of 2.66 percent reached two weeks ago.
The low rates have helped drive a modest housing recovery. Rates have fallen further since the Federal Reserve started buying mortgage bonds in September.
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Posted: 05/23/13 - Julie Luton of Bonham took home the top honor of the evening at the recent volunteer banquet hosted by the Fannin County Children’s Center. Luton was named the CASA Volunteer of the Year for her work in advocating for abused and neglected children in foster care. Read More
Posted: 05/22/13 - (Idabel, Okla.) – For anyone interested in learning more about building preservation, Idabel Main Street will host “Historic Building Maintenance,” a workshop on the care and maintenance of the historic district, June 25th, from 5:30pm – 7:00pm, at the Idabel Public Library. Read More
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