Biz: Mortgage rates fall to their lowest level in 50 years
- 4.15% the current rate for a 30-year fixed loan source
- » To explain why this is important: Mortgage rates tend to go down when people aren’t buying homes, as an incentive to get them to buy. When the economy was doing well back around 2000, this rate was around 8 percent. Now, the rate is so low that the last time it was this low, 30-year fixed loans weren’t even widely available and the numbers were based on 20 or 25-year fixed loans. This particular statistic has been below 5 percent for the entire year, minus around two weeks.