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Mortgage Rates in U.S. Tumble to Lowest in More Than 50 Years

By Prashant Gopal - Aug 18, 2011

Mortgage Rates in U.S. Tumble to Lowest

Joshua Lott/Bloomberg

Prospective home buyer Robert Street, right, follows realtor Phyllis Jackson to look at a home for sale in Chandler, Arizon.

Prospective home buyer Robert Street, right, follows realtor Phyllis Jackson to look at a home for sale in Chandler, Arizon. Photographer: Joshua Lott/Bloomberg

Phelan M. Ebenhack/Bloomberg

U.S. mortgage rates fell to the lowest in more than half a century as concern that the global economic recovery is faltering spurred demand for bonds that guide home loans, according to Freddie Mac.

U.S. mortgage rates fell to the lowest in more than half a century as concern that the global economic recovery is faltering spurred demand for bonds that guide home loans, according to Freddie Mac. Photographer: Phelan M. Ebenhack/Bloomberg

U.S. mortgage rates fell to the lowest in more than half a century as concern that the global economic recovery is faltering spurred demand for bonds that guide home loans, according to Freddie Mac.
The average rate for a 30-year fixed loan dropped to 4.15 percent in the week ended today from 4.32 percent, the McLean, Virginia-based mortgage financier said in a statement today. That was the lowest in more than 50 years, Freddie Mac said. The average 15-year rate fell to 3.36 percent from 3.5 percent.
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