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Mortgage Rates Are Down

By: CNN
By: CNN

Mortgage rates have hit an all-time low.
That's coming from a weekly mortgage market survey from Freddie Mac.
The new numbers show the rate for a 30-year, fixed-rate loan dropped to 3-point-62 percent.
The 15-year fixed rate fell to 2-point-89 percent, that means if you're looking to take out a home loan for 200-thousand-dollars, your mortgage payment will run you an estimated $911.00 a month.
Just a year ago, the same loan would have cost about 100 dollars more a month.
Economists say a drop in consumer spending may be contributing to the falling rates.


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