Mortgage rates are down to their lowest levels since May 2013.
This week rates declined for the third straight week, with lenders offering on average 3.63 percent on a 30-year fixed loan — down .02 percent from two weeks ago.
The mortgage finance giant Freddie Mac reported that this week’s rate for a 30-year mortgage fell from 3.66 percent last week and 4.39 percent a year earlier. Lenders are also offering a 15-year fixed loan at a lower rate from last week and a significantly lower rate from 2014, the Sun Sentinel reported.
This historic decline has led to a growth in mortgage applications, according to the newspaper. [Sun Sentinel] — Kristina Puga