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Home Loans Are Extremely Low!

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Mon, Apr 01, 2013 at 2:58PM

How low can home loans go?  Freddie Mac reported Thursday another historic low in interest rates.  The average rate on  15- year, fixed mortgage fell to 2.875 percent.   Last week it averaged 3.02 percent.  The average 30- year home loan also set a record by dropping to 3.675 percent down form last weeks 3.78 percent.  Frank Nothaft, of Freddie Mac's chief economist, states " it is unreal, isn't it?"  Nothaft states the low rates are caused by the economic woes in Europe, which have pulled down the yield on long - term Treasury bonds.


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