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.