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US mortgage rates drop near record low-Freddie Mac

Thu Apr 16, 2009 10:18am EDT

NEW YORK, April 16 (Reuters) - U.S. mortgage rates fell back toward record lows this week and stayed more than a percentage point below levels a year ago, Freddie Mac said on Thursday.

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The average 30-year home loan rate declined 0.05 percentage point in the April 16 week to 4.82 percent from a week ago. A year ago, the long-term fixed borrowing cost was 5.88 percent.

This week's rate nearly matched the 4.78 percent two weeks ago that was the lowest since Freddie started tracking it in 1971. See Freddie Mac table for more loan details, at [ID:nWAT011288]. (Reporting by Lynn Adler; Editing by Theodore d'Afflisio)

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