CHICAGO-Fixed mortgage rates plunged this week after growing steadily in the last two months. The average value for the 30-year fixed loans declined to 4.77% from last week's 4.86%, said Freddie Mac.
The average value for the 15-year fixed mortgage dropped to 4.13% from 4.20%. It reached the lowest rate of 3.57% in November. Fixed mortgage rates have been growing since November 2010, and investors have transferred money into stocks from Treasurys. For the full story, go to Chicago Sun Times.
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