Home Loan Interest Rates Are Hovering Below 4%

Mortgage rates posted another drop this week, offering more relief to home buyers.

Freddie Mac reports the following national averages for the week ending July 27:

’30-year fixed-rate’ mortgages: averaged 3.92 percent, with an average 0.5 point, falling from last week’s 3.96 percent average. Last year at this time, 30-year rates averaged 3.48 percent.

’15-year fixed-rate’ mortgages: averaged 3.20 percent, with an average 0.5 point, dropping from last week’s 3.23 percent average. A year ago, 15-year rates averaged 2.78 percent.

Source: Freddie Mac