Rate on 30-year mortgage falls to record 3.49 pct.

Rate on 30-year mortgage falls to record 3.49 pct.

By MARCY GORDON The Associated Press
Published Sep 20, 2012 10:27AM MDT
Washington • The average U.S. rate on the 30-year fixed mortgage touched its record low this week and the rate on 15-year mortgage hit a new record. The declines followed the Federal Reserve announcement last week that it would buy bonds to try to push mortgage rates lower and stimulate the housing market. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan declined to 3.49 percent from 3.55 percent last week. That matched the lowest rate since long-term mortgages ...
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