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Mortgage Rates for 30-Year U.S. Fixed Loans Unchanged at Record-Low 3.87%

February 17, 2012

[The original article can be found HERE, compliments of Bloomberg.]



Rates for 30-year U.S. mortgages held at the lowest level on record as fewer Americans sought loans to buy homes.

The average rate for a 30-year fixed loan was unchanged in the week ended today at 3.87 percent, the lowest in records dating to 1971 and the third straight week at that level, Freddie Mac (FMCC) said in a statement. The average 15-year rate remained at 3.16 percent, according to the McLean, Virginia- based mortgage-finance company.

“Rates have moved very little now for the last couple of months,” Keith Gumbinger, vice president of, a loan- data company in Pompton Plains, New Jersey, said in an interview yesterday. “Rates are at fantastic levels.”

Low borrowing costs have done little to spark consumer interest in buying houses. Financing applications for purchases have fallen in three of the past four weeks, according to data from the Washington-based Mortgage Bankers Association. The group’s purchase index declined 8.4 percent in the period ended Feb. 10, while its refinancing gauge rose 0.8 percent.

To contact the reporter on this story: Brian Louis in Chicago at

To contact the editor responsible for this story: Daniel Taub at

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