The 30-year fixed-rate average dropped to 4.12 percent with an average 0.6 point, falling to its lowest level since late October. It was 4.14 percent a week ago and 3.81 percent a year ago. Since starting the year at 4.53 percent, the 30-year fixed rate has plummeted 41 basis points.
The 15-year fixed-rate average fell to 3.21 percent with an average 0.5 point, dropping to its lowest point in seven months. It was 3.25 percent a week ago and 2.98 percent a year ago. The 15-year fixed rate has sunk 34 basis points since the first of the year.
As a visual, I have included a screen shot from my smartphone application showing the 30-year fixed rate over the last 6 months. You can download my aapplication for free at http:// teamscott.mortgagemapp.com