Mortgage rates drop again, lowest in decades
30-year benchmark slides to 4.19 percent with 15-year at 3.62 percent MSNBC REPORTS
NEW YORK — Rates 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, mortgage buyer Freddie Mac said Thursday. It's down from 4.27 percent the previous week.
The average rate on 15-year fixed loans fell to 3.62 percent. CLICK HERE FOR FULL ARTICLE
When it comes to home loans, most people prefer this scheme of payments. However in case of increased interest due to a missed installment, you may find yourself giving out a lot of money when there is a fall in the market interest rates.
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