New record low for mortgage rates

Freddie Mac reports today the 30-year, fixed rate mortgage fell to a new record low of 3.34 percent this week. The 15-year, fixed rate averaged 2.65 percent, also marking a new all-time record. Frank Nothaft,  vice president and chief economist for Freddie Mac, said in a statement:

“Fixed mortgage rates eased this week to record lows on indicators of higher consumer confidence and lower wholesale prices. Consumer sentiment rose in November to the highest reading since July 2007 according to the University of Michigan. Meanwhile, the core producer price index fell 0.2 percent in October.”

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