Freddie: Mortgage rates lowest since '71

By Gary Linnell

ProWEB Wire (Industry News)

The average rate for 30-year fixed mortgages is at 4.42 percent for the week -- the lowest level since Freddie Mac began tracking rates in 1971.

This figure represents a slight decline from a rate of 4.44 percent last week.

And, in terms of the average rate on 15-year fixed loans, the figure dropped to 3.9 percent -- a decline from 3.92 percent last week and a percentage representing the lowest since the Department began tracking such data in 1991.