Record-low mortgage rates encourage home-buying
Mortgage rates across the country are as low as they’ve been in decades, according to major mortgage buyer Freddie Mac, and local lenders and real estate agents said the rates are spurring home buying.
Freddie Mac reported Thursday the average rate for a 15-year fixed mortgage slipped to 2.56 percent, the lowest on record dating to 1991. It fell from 2.61 percent last week, the previous record. The rate on the 30-year loan fell to 3.35 percent from 3.40 percent last week. It’s just above November’s rate of 3.31 percent, the lowest rate since 1971.