Mortgage Rate Back Below 5% on 30-Year

Washington, DC, Feb. 25, 2011 — The average rate for a 30-year fixed-rate mortgage fell below 5% this week, according to Freddie Mac.

The mortgage averaged 4.95% for the week ending Feb. 24, down from 5% last week and 5.05% a year ago.

Fifteen-year fixed-rate mortgages also declined, averaging 4.22%, down from 4.27% last week. The mortgage averaged 4.4% a year ago.