Average interest rates on 30-year home loans dropped to 3.51 percent this week, but remained above 3.5 percent for the fifth week in five months, Freddie Mac said Thursday.
The average 30-year, fixed-rate home loan was at 3.56 percent last week, the secondary lender reported. The rate remained almost a quarter percent off the all-time low of 3.31 percent set last November, according to Freddie Mac.
A year ago the average 30-year fixed rate was at 3.9 percent, Freddie Mac said.
Average rates for 15-year fixed rate mortgages fell slightly to 2.76 percent after being at 2.77 percent. It remains close to the record low 2.63 percent The rates averaged 3.17 a year ago, Freddie Mac said.
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