Mortgage Rates Low
FRESNO, Calif. (KMPH) —
Mortgage rates are now at their lowest level since last October.
Freddie Mac says the average rate for a 30 year, fixed-rate loan, fell to 4.14%.
These lower mortgage rates however are not boosting the housing market.
According to Mortgage Bankers Association stats, applications for mortgages to buy homes, have been running about 10 % behind the pace of a year ago.