30-Year Mortgage Rate Plunges To Record Low 3.94%

The national average mortgage rate fell below 4% for the first time ever.

According to Freddie Mac, the national average 30-year fixed mortgage rate fell to a record low 3.94%.  This is down from last week’s 4.01%.

Mortgage rates have been falling along with the 30-year Treasury Bond yields, a benchmark for the 30-year mortgage. The 30-year Treasury Bond has probably been falling because of Operation Twist, or rather the anticipation of Operation Twist.

For some context:

Photo: St. Louis Federal Reserve

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