Mortgage rates keep sliding

Mortgage rates keep sliding

Mortgage rates continued to decline for the fifth straight week, hitting or nearing record lows, said a report from mortgage giant Freddie Mac on Thursday.

The 30-year fixed rate this week averaged 3.35 percent, nearing the record low of 3.31 percent set last in November. The 15-year fixed reached a new bottom of 2.56 percent. The previous low was set last week at 2.61 percent.

Freddie Mac’s chief economist Frank Nothaft said home-loan rates continued to ease after news that the country’s GDP growth rose 2.5 percent. A steady contributor to that economic growth has been residential fixed investments, which include home sales.

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