Average US rate on 30-year mortgage falls to 3.66 percent

[Omaha Steve]

Source: AP-Excite

WASHINGTON (AP) — Average long-term U.S. mortgage rates declined this week, approaching historically low levels with the spring home-buying season underway.

Mortgage giant Freddie Mac said Thursday the national average for a 30-year fixed-rate mortgage slipped to 3.66 percent from 3.70 percent last week.

The average rate for a 15-year mortgage, popular with homeowners who refinance, fell to 2.93 percent from 2.98 percent last week.

A year ago, the average 30-year mortgage rate was 4.34 percent and the 15-year rate was 3.38 percent.

FULL story at link.



FILE - In this Jan. 8, 2015 file photo, a realty sign is posted in front of a home for sale in Jackson, Miss. Freddie Mac reports on average U.S. mortgage rates on Thursday, April 9, 2015. (AP Photo/Rogelio V. Solis, File)

Read more: http://apnews.excite.com/article/20150409/us--mortgage_rates-4017ff1312.html

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We assumed a 1971 loan in 1975. The rate was 7% plus 1/2% for FMLA. In 1983 the average rate nationally was 14%.

[whatthehey]

1. Yah. I have 800+ FICO and got 3.5% 15 yr 3+ yrs back. Thought that was unbeatable

And yet they keep dropping. Not enough of a delta to refi but still good for current buyers.

[mike_c]

2. meanwhile, still paying 8.45% on my student loan debt that cannot be paid off...

...during my working lifetime. Rat bastards.