U.S. mortgage rates take massive plunge

U.S. mortgage rates again fell with their biggest one-week drop in a decade, according to Freddie Mac.

The 30-year fixed mortgage averaged 4.06 percent for the week ending March 28, down from 4.28 percent the previous week. A year ago, mortgage rates stood at 4.4 percent.

Low mortgage rates help propel U.S. home sales and the refinance market.

“The Federal Reserve’s concern about the prospects for slowing economic growth caused investor jitters to drive down mortgage rates by the largest amount…

from Fort Lauderdale Real Estate News & Residential Real Estate News – Residential Real Estate News Headlines | Bizjournals.com & Banking & Financial News – Banking & Financial News Headlines | Bizjournals.com http://feeds.bizjournals.com/~r/industry_21/~3/ZRDIFFEltr4/u-s-mortgage-rates-take-massive-plunge.html
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