Mortgage rates fall to new low for 2014
December 18, 2014 11:00 pm
• Last Updated: December 18, 2014 10:45 pm
Mortgage rates have hit a fresh low for the year. The average for a 30-year fixed loan fell to 3.80 percent this week, down from 3.93 percent a week earlier, mortgage company Freddie Mac said Thursday. Lenders, meanwhile, offered a 15-year fixed mortgage at 3.09 percent, compared to 3.20 percent last week.
Plunging oil prices and concerns over the global economy drove yields on the 10-year Treasury note this week to their lowest level since May 2013. That sent mortgage rates down as well, because they tend to track the long-term Treasury yield.
- Los Angeles Times
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