WASHINGTON – Rates on 30-year mortgages rose for the second straight week, but remain near the lowest level in decades.
The average rate for 30-year fixed loans this week was 4.37 percent, mortgage buyer Freddie Mac said Thursday. That’s up from 4.35 percent a week earlier and 4.32 percent the previous week, which was the lowest level on record dating back to 1971.
The average rate on 15-year fixed loans dropped to 3.82 percent. That was the lowest on record dating back to 1991 and was down from 3.83 percent last week.
Rates have been at or near the lowest level in decades since spring as investors worried about the state of the economy and moved money into safe Treasury bonds. That lowered those yields, which mortgage rates tend to track.
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