Mortgage rates hit low for 2014
The average interest rate on a 30-year fixed mortgage is 4.12 percent, Freddie Mac says.
The average rate for a 30-year fixed-rate mortgage declined to 4.12 percent in the week that ended Aug. 14 from 4.14 percent in the prior week, according to a Thursday report from federally controlled mortgage-buyer Freddie Mac.
A year ago, the 30-year rate was at 4.4 percent. The average rate for the 15-year fixed-rate mortgage fell to 3.24 percent in the latest week from 3.27 percent in the prior week.
Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage ticked down to 2.97 percent from 2.98 percent.
The rate for a 1-year Treasury-indexed ARM rose to 2.36 percent from 2.35 percent.
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