Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

After hitting record lows last week, mortgage rates have stayed tanked amid growing concerns that lawmakers won't reach a compromise to avoid a "fiscal cliff" of automatic tax increases and spending cuts scheduled to take place next year, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.Rates on 30-year fixed-rate mortgages averaged 3.32 percent with an average 0.8 point for the week ending Nov. 29, up from 3.31 percent last week but down from 4.00 percent a year ago. Last week's rate was a new record in Freddie Mac records dating to 1971.For 15-year fixed-rate loans, rates averaged 2.64 percent with an average 0.6 point, up from 2.63 percent last week but down from 3.30 percent a year ago. Last week's rate was a record in records dating to 1...