Long-term mortgage rates in the United States have fallen to a record low for the 16th time this year.Freddie Mac's primary mortgage rate average fell in December to 2.66%, the lowest rate in the history of the survey, which has been conducted since 1971.
The 30-year fixed-rate mortgage fell 0.01% from the week's previous average low of 2.67%. The current rate is nearly 1 point lower than the 3.74% average rate a year ago.
"The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity," Sam Khater, Freddie Mac chief economist, said in a statement. ...
Dr. Alan Cairns | 3/9/2009
