CHICAGO (MarketWatch) -- Rates on fixed-rate mortgages hit another low this week, after recent reports showed drops in existing- and new-home sales, according to Freddie Mac's weekly survey of conforming mortgage rates released Thursday.
The 30-year fixed-rate mortgage averaged 4.36% for the week ending Aug. 26, down from 4.42% last week and 5.14% a year ago. The 15-year fixed-rate mortgage averaged 3.86%, down from 3.9% last week and 4.58% a year ago.
Both fixed-rate mortgages are at record lows, after falling for nine of the past 10 weeks and shattering several previous record lows. Freddie Mac began tracking the 30-year fixed-rate mortgage in 1971 and the 15-year fixed-rate mortgage in 1991.
The time is right, so if you're a first time buyer or just ready to make that next move, call or email me and I'd be happy to assist you....
DEBORAH BRACCO
LICENSED REAL ESTATE SALESPERSON
Email: deborahbracco@live.com
Website: deborahbracco.com
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