According to Freddie Mac's Weekly Primary Mortgage Market Survey, the average on the 30-year loan rate dropped to 3.53%*. That is the lowest weekly average since long-term mortgages began in the 1950's. The weekly average rate on the 15-year mortgage dropped to 2.83%*.
In comparison, the 30-year loan rate on July 21, 2011 was 4.52%, and the 15-year rate was 3.66%.
