Mortgage rates continue record descent

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Home loan rates available to highly qualified borrowers have dropped to new lows yet again, according to Freddie Mac’s survey of lenders.

The giant mortgage finance company said Thursday that the lenders were offering an average rate of 4.27% this week on 30-year fixed-rate loans, down from 4.32% last week. The average for 15-year fixed loans was 3.72%, down from 3.75% last week.

Freddie Mac said the lenders were requesting about 0.8% of the loan balance in upfront lender fees on the 30-year loan and 0.7% on the 15-year fixed mortgage.

The rates are the lowest since Freddie began tracking the 30-year rate in 1971 and the 15-year rate in 1991.


-- E. Scott Reckard