Mortgage interest rates continued to fall this week as concerns about the continued sovereign debt crisis in Europe and a still stagnant economy in the U.S. forced down the yields and interest on U.S. Treasury notes.
According to Freddie Mac, interest on mortgage almost across the board fell, with only the rate on the hybrid five year adjustable mortgage remaining the same.
The mortgage giant reported that 30 year fixed rate mortgages averaged 4.12% with an average 0.7 point for the week ending today, down from last week when it averaged 4.22 percent. Last year at this time, the 30-year FRM averaged 4.35%, the firm reported.
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