Mortgage rates for 30-year loans dropped to a five-week low, which will likely be extended due to the Federal Reserve's decision to refrain from reducing its monthly mortgage bond and Treasury purchases. Per Bloomberg:
The average rate for a 30-year fixed mortgage dropped to 4.5% from 4.57%, Freddie Mac said in a statement today. The average 15-year rate decreased to 3.54% from 3.59%, according to Freddie Mac.
