WASHINGTON - Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests that the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan had dropped to 3.40 percent. That's down from last week's rate of 3.49 percent - the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, fell to 2.73 percent, down from the record low of 2.77 percent last week.