WASHINGTON, DC-Freddie Mac has reported that the 30-year average mortgage rate stood at 4.49% for the week ended August 5. This is down from 4.54% compared to the last week and was 5.22% exactly a year back. This is the sixth record low in the past seven weeks.
The 15-year average mortgage also fell to 3.95% from 4% the previous week. However, these low rates offer some signs of hope for the housing market anticipating demand for home loans to rise. For the full story, go to Reuters.
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