Mortgage Rates Fall, Near Record Lows

Washington, DC, Aug. 30, 2012 — Average fixed mortgage rates fell this week and are just above record lows from earlier this year.

Freddie Mac says the rate on the 30-year loan declined to 3.59%, down from 3.66% last week.

Five weeks ago, the rate fell to 3.49%, the lowest since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage declined to 2.86% from 2.89% last week.