Fixed-rate mortgages reached new record lows for the sixth-straight week as long-term Treasury bond yields declined further following downwardly revised economic growth and job creation data.
The Freddie Mac survey showed the 30-year FRM averaged 3.67% for the week ending Thursday — a new low — ticking down from the prior week's record average of 3.75%. Last year at this time, the 30-year FRM averaged 4.49%.
The 15-year FRM, a popular refinancing choice, averaged 2.94% — also a new low — down from last week‘s record average of 2.97%. A year ago, the average rate for a 15-year FRM was 3.68%.
