Martin Crutsinger, AP economics writer
WASHINGTON – June 22, 2012 – The average U.S. rate on a 30-year fixed mortgage fell this week to a record low for the seventh time in eight weeks. Cheap mortgages have helped drive a modest recovery in the weak housing market this year.
Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan dropped to 3.66 percent. That’s down from 3.71 percent last week and the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year mortgage, a popular refinancing option, declined to 2.95 percent. That’s down from 2.98 percent last week and just above the record 2.94 percent reached two weeks ago. (more…)
Dreambuilder Custom Homes was recognized in the current issue of Florida Homebuyer magazine for its community involvement. In an article titled “Good Neighbor Awards,” Florida Homebuyer profiled firms in the building industry that were making significant contributions to non-profit organizations. Dreambuilder is pleased to have been counted among these companies.