Summary Box: Mortgage rates slip this week

AP News
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Posted: Feb 24, 2011 3:33 PM
Summary Box: Mortgage rates slip this week

MORTGAGE RATES FALL: Freddie Mac said the average rate on the 30-year fixed mortgage fell to 4.95 percent this week from 5 percent the previous week. The average rate on the 15-year fixed home loan fell to 4.22 percent from 4.27 percent

TREASURY YIELDS DOWN: Mortgage rates tend to track the yield on the 10-year Treasury note. It fell this week as investors sought safer assets amid escalating violence in Libya.

FAR FROM LOWS: The rate on the 30-year loan It hit a 40-year low of 4.17 percent in November. The rate on the 15-year mortgage reached 3.57 percent in November, the lowest level on records dating back to 1991.