WASHINGTON, DC-Freddie Mac has reported that the average rates on 30-year loans decreased to 4.19% in the latest week, a record-low value since 1971. The lower yields of treasury bonds shoved down the mortgage rates further.
As investors are expecting the Federal Reserve to lower yields and mortgage rates on corporate loans, they are investing more in treasury bonds. The 15-year loans' average mortgage rates also reached the lowest value since 1991 to 3.62% in the latest week. For the full story, go to Boston Globe.
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