Average Rate On 30-Year Mortgage Falls To 3.43 Percent, Lowest Since January


mortgage.jpgMortgage rates are at their lowest level since January, the widely watched Freddie Mac survey shows, with the average for a 30-year fixed-rate loan dropping to 3.43% this week from 3.54% a week ago.

The survey of rates lenders are offering to solid borrowers, released Thursday, said the average rate for a 15-year fixed home loan descended from 2.74% to 2.65%. Borrowers would have paid less than 1% of the loan amount in upfront lender fees and points to obtain the loans.

A lackluster employment report for March and a survey showing that average hourly wages were unchanged tamped down concerns that the Fed might back off the bond-buying spree that has kept rates near record lows, said Frank Nothaft, Freddie Mac’s chief economist.