30-year mortgage rate falls to 3.90 percent
The average rate on the 30-year fixed-rate mortgage fell to 3.90 percent in the week ending March 1, remaining near a record low, Freddie Mac said in its weekly report on mortgage rates. The rate was 4.87 percent a year earlier. "Fixed mortgage rates bottomed out in January and February of this year which is helping spur the housing market," said Frank Nothaft, Freddie Mac's chief economist.
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