The average interest rate on a 30-year, fixed-rate mortgage reached 4.01% for the week ending Sept. 29, the lowest ever recorded on the Freddie Mac survey.
The 15-year FRM also averaged a record low 3.28% for the week. The new lows come after the Federal Reserve announced it would buy $400 billion of long-term Treasury bonds and reinvest in agency mortgage-backed securities in order to keep borrowing costs down.
Read On Provided by Housing Wire
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