Mortgage Rates Drop To Near 4%


Published 07/03 2014 04:19PM

Updated 07/03 2014 04:21PM

Rock-bottom mortgage rates moved even lower this week.

According to Freddie Mac the interest rate for a 30-year fixed rate loan hit an average of 4.12-percent.

The rate has not been that low since October of last year when it was 4.10-percent.

The drop has surprised some experts, who expected rates to start rising once the Federal Reserve began to cut back on its purchases of treasury bonds and mortgage backed securities.

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