See-saw mortgage interest rates tip lower againNovember 1, 2012 @ 8:50 am (Updated: 8:54 am - 11/1/12 )
The Associated Press reported that the average U.S. rate on a 30-year, fixed-rate mortgage slipped this week and stayed near its record low, a trend that's helped boost home sales and refinancing.
Freddie Mac reported the rate on the 30-year loan declined to 3.39 percent from 3.41 percent last week. Four weeks ago, the rate touched 3.36 percent, the lowest level on records dating to 1971.
The average on the 15-year, fixed mortgage fell to 2.70 percent. That's down from 2.72 percent last week and close to the record low of 2.66 percent reached two weeks ago.
The low rates have helped drive a modest housing recovery. Rates have fallen further since the Federal Reserve started buying mortgage bonds in September. The Fed said it planned to keep rates low through 2014.
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