30-year-mortgage rate declines to 4.10%

The average rate for the 30-year fixed-rate mortgage fell to 4.10% in the week that ended Oct. 31, hitting the lowest level since June, from 4.13% in the prior week, according to a Thursday report from federally controlled mortgage buyer Freddie Mac. The rate has declined for two weeks in anticipation of the Federal Reserve’s Wednesday decision to delay tapering its massive asset-purchase program that is exerting downward pressure on long-term rates. A year ago, the rate was at 3.39%. The average rate for the 15-year fixed-rate mortgage fell to 3.20% in the latest week from 3.24% in the prior week. Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage declined to 2.96% from 3.00%. The rate for a 1-year Treasury-indexed ARM increased to 2.64% from 2.60%.

Although these are the AVERAGE rates, I personally get you down even lower!

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