30-year Mortgage Rates Fall Below 4% For First Time

NEW YORK (CNNMoney) -- Mortgage rates have never been cheaper, with the 30-year rate falling below 4% for the first time in history.
The interest rate on a 30-year fixed-rate loan fell to 3.94% this week, the lowest rate since mortgage giant Freddie Mac (FMCC, Fortune 500) began tracking it. Meanwhile, the average for a 15-year fixed-rate mortgage also hit a record, falling to 3.26%.

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