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New Low For US Mortgage Rates

  • Fixed-rate mortgages in the US dropped to a record low this week, with 30-year loans coming down to about 3.62%. Last week the 30-year loan rates were 3.66% and the current rates are the lowest since the 1950s when long-term mortgages began. The more popular refinancing option, a 15-year mortgage came down from 2.94% last week to 2.89%. This trend in the fall of mortgage rates has provided a boost to the sale of new or previously owned houses in the US.