Washington – Rates on 30 year mortgages fell this week to 4.19 percent, the lowest level in decades. They were pushed down by lower Treasury bond yields. Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on corporate debt. As a result the average rate for 30 year fixed loans dropped to the lowest level on record dating back to 1971, mortgage buyer Freddie Mac said Thursday.
Herald wire reports