Mortgage Rates Hit New Record Low
By wchung | 14 Jul, 2026

A home for sale is posted at a reduced price in Palo Alto, Calif., Thursday, June 24, 2010. Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. (AP Photo/Paul Sakuma)

Mortgage rates fell to a new record low for the fourth time in five weeks. But low rates haven’t been enough to lift a struggling housing market.

Freddie Mac says the average rate for 30-year fixed loans this week was 4.56 percent, down from 4.57 last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The rate on the 15-year fixed loan dropped to 4.03 percent, down from 4.06 percent last week and the lowest on record.

Rates have fallen since the spring. Investors worried about the European debt crisis have shifted money into the safety of Treasury bonds, which has forced those yields down. Mortgage rates tend to track yields on Treasury debt.

However, low rates have yet to spark home sales and refinancing activity remains moderate.

NEW YORK (AP)