Mortgage Rates Hit Multi-Decade Lows Again

Washington, DC, Sept. 2, 2010–Mortgage rates fell to the lowest level in decades for the 10th time in 11 weeks, according to mortgage buyer Freddie Mac.

The average rate for a 30-year fixed loan was 4.32% this week, down from 4.36% last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on 15-year fixed loan dropped to 3.83% from 3.86% the previous week. That’s the lowest on records starting in 1991.