(NEW YORK) — According to Freddie Mac, the average 30-year fixed mortgage is at the lowest ever rate for the seventh time in eight weeks.
The rate is now 3.66 percent down from 3.71 percent last week. The average rate on 15-year fixed mortgages is 2.95 percent, nearly matching the record-low rate of 2.94 percent from two weeks ago.
Chad Wandler, a spokesman for Freddie Mac, says, “The Fed’s extending Operation Twist means we are in for very low mortgage rates for a while to come, so for people who are looking to buy or refinance this is great news.”
Copyright 2012 ABC News Radio
Jethro Mullen Ivana Kottasova and Patrick Gillespie, CNN
Aaron Smith, CNN Newswire
David Goldman, CNN
Ahiza Garcia, CNN