Interest rates fell to new historic lows this week for both 30- and 15-year fixed-rate home loans. 30-year fixed rate loans now averaging just above 3.5 percent, Freddie Mac reported today.
Average interest rates on 15-year fixed-rate loans also dropped this week to new lows to 2.86 percent after being at 2.89 percent the week before, Freddie Mac said. The 15-year fixed rate loan has average below 3 percent for seven weeks. Last year at this time the average rate was at 3.66 percent