Mortgage Interest Rates Drop


Worried about interest rates? If you're looking for a home loan, you can breath a little sigh of relief: after inching up in recent weeks, average interest rates fell back to their near-historic lows.

Average interest rates for 30-year home loans slid to 5.07 percent (plus 0.6 percent in fees) for the week ending April 15. That's down from an average of 5.21 percent the week before, according to Freddie Mac's Primary Mortgage Market Survey.

"After rising for four consecutive weeks, mortgage rates eased back to where they were two weeks ago and still remain historically low," said Frank Nothaft, Freddie Mac vice president and chief economist.