Mortgage interest rates dropped last week and may stay down for months

Interest rates on 30-year, fixed-rate mortgage loans fell last week and may stay down for months or even longer if global economic growth remains slow. Mortgage News Daily reported that the average mortgage lender is offering an interest rate ranging from 4.125 to 4.25 percent, and aggressive lenders are offering 3.875 percent to the most creditworthy borrowers. The average fixed rate on a 30-year mortgage was 4.4 percent prior to the Federal Reserve‚Äôs announcement last … Continue reading Mortgage interest rates dropped last week and may stay down for months[more]