Mortgage rates have dropped to the lowest level seen this year, according to Freddie Mac’s weekly mortgage rate report. The average national 30-year fixed-rate loan decreased 0.8% from last week averaging 4.21%. The average national 15-year, fixed-rate mortgage fell 0.7% from the previous week averaging 3.32%. According to the report, the U.S. had not seen rates this low since early November 2013 when mortgage rates hovered around 4.16% nationally. Freddie Mac’s chief economist, Frank Nothaft said, “mortgage rates continued moving down following the decline in 10-year Treasury yields after a dismal report on real GDP growth in the first quarter.” More here
