Mortgage rates fall again; 30-year at 4.19%

Posted by Emily Ray-Porter Group on Thursday, October 14th, 2010 at 9:30am.

Alan Zibel-AP Real Estate Writer

WASHINGTON — Rates on 30-year mortgages fell to 4.19%, the lowest level in decades, pushed down by lower Treasury note yields.

Investors are buying up Treasurys in anticipation of a move by the Ferderal Reserve designed to lower mortgage rates and yields on corporate debt.

As a result, the average rate for 30-year fixed loans dropped to the lowest level on records dating back to 1971. It's down from 4.27% the previous week.

Rates have mostly fallen since spring as investors shifted money into the safety of Treasurys. That demand lowers their yields, which mortgage rates tend to track.

Print

Leave a Comment