30-year mortgage rates fall
Posted at: 09/21/2012 6:27 AM
The rate on a 30-year mortgage falls once again to its record low.
The average U.S. rate on the 30-year fixed mortgage fell back this week to 3.49-percent, matching the lowest rate since long-term mortgages began in the 1950s. The rate on the 15-year fixed mortgage plunged to a new record low -- 2.77-percent.
Last week, the fed said it plans to spend $40-billion a month to buy mortgage bonds for as long as it thinks necessary to make home buying more affordable.