Mortgage rates fell this week to the lowest level of the year, as rates fell on U.S. government securities. Fixed mortgage rates closely track interest rates paid on long-term Treasury bonds.
The average rate on a 30-year fixed rate mortgage dropped to 4.93 percent this week from 5 percent a week earlier, Freddie Mac said Thursday. It was the lowest level since mid-December, when rates averaged 4.81 percent. Last year at this time, the 30-year fixed rate mortgage averaged 4.86 percent.