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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
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