Mortgage Rates in US Hit a New Low at 4.57 Percent

Mortgage rates for 30-year US fixed-rate mortgages fell even lower on Thursday—the second straight week this has happened.
Mortgage Rates in US Hit a New Low at 4.57 Percent
7/8/2010
Updated:
7/8/2010
Mortgage rates for 30-year US fixed-rate mortgages fell even lower on Thursday—the second straight week this has happened. The rates fell to a new low of 4.57 percent, mortgage company Freddie Mac reported.

Last week, the rate was at 4.58 percent. A year ago, the 30-year fixed-rate mortgage averaged 5.2 percent. Since Freddie Mac began tracking mortgage rates in 1971, the current rate is the lowest on record.

According to the Associated Press, the last time rates were lower was back in the 1950’s.