News Summary: 30-year mortgage rate at 3.43 pct.

April 11, 2013 @ 8:15 am

(AP) - STEEP FALL: Average U.S. rates on fixed mortgages fell sharply this week, keeping home-buying and refinancing attractive.

THE NUMBERS: The average rate on the 30-year fixed mortgage fell to 3.43 percent from 3.54 percent last week. That's near the record low of 3.31 percent. The average on the 15-year loan dipped to 2.65 percent from 2.74 percent, and just above the record 2.63 percent.

HOUSING RECOVERY: Low mortgage rates are helping sustain a housing recovery that began last year. Home sales and residential construction are up, prices are rising and more Americans are refinancing. That's helped the broader economy.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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