Mortgage Rates Fall Again to Record Low Numbers

COLUMBIA, S.C. (CNN) – Good news for people looking to buy a home. Mortgage rates fell again to record low numbers this week. This comes as the Federal Reserve decides to buy billions in home loans. According to mortgage finance backer Freddie Mac, the average 30-year fixed-rate mortgage fell to 3.40 from 3.49 last week. And if you can swing a 15-year loan— the rates are even better: 2.73%, down from the previous record of 2.77% a week earlier. The low rates can help stimulate economic activity by funneling cash into the economy. An economist at Freddie Mac says lower rates not only help home buyers, they also help homeowners who refinance.