Mortgage rates drop to near 4%

MGN Online
Friday, July 4, 2014 - 8:14am

Rock-bottom mortgage rates moved even lower this week.

According to Freddie Mac, the interest rate for a 30-year fixed rate loan hit 4.12%. The rate hasn't been that low since October of last year when it was 4.10%.

The drop has surprised some experts, who expected rates to start rising once the federal reserve began to cut back on its purchases of treasury bonds and mortgage backed securities.


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