Long-term mortgage rates fell to record lows for the second consecutive week on the Federal Reserve’s mortgage securities purchases and signs of a weakening economy, the Washington Business Journal reports.
Freddie Mac says the average rate on a 30-year fixed-rate mortgage fell to 3.36 percent in the week ending Oct. 4, down from 3.4 percent last week. A 15-year fixed-rate loan dropped to an average of 2.69 percent, down from 2.73 percent last week.
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