Industry NewsMortgage

Record low rates spur refis but not sales

30-year fixed-rate mortgage slips to 4.56%
Published on Jul 22, 2010

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by CareyBot

Fixed-rate mortgage rates fell slightly to hit new lows during the week ending July 22, Freddie Mac said in releasing the latest results of its weekly Primary Mortgage Market Survey.

The survey showed 30-year fixed-rate loans averaging 4.56 percent with 0.7 point, essentially unchanged from last week's 4.57 percent reading, but down from 5.20 percent a year ago and a new low in records dating to 1971.