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Average US 30-year Mortgage Rate Falls to New Low

Long-term U.S. mortgage rates fell this week to new lows for the year, pushed down by financial tumult in Europe. Mortgage giant Freddie Mac says the average 30-year fixed rate mortgage fell to 3.41 percent from 3.48 percent a week ago. A year ago, the 30-year rate stood at 4.04 percent. The 15-year mortgage rate dropped to 2.74 percent, down from 2.78 percent last week and 3.20 percent a year ago. The rate on five-year adjustable rate mortgages slipped to 2.68...

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