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Mortgage rates drop to record lows

Average mortgage rates dropped this week to lowest levels on record, according to Charlotte-based LendingTree.

As of Tuesday, average home loan rates offered by LendingTree network lenders dropped week over week to 4.35 percent for 30-year fixed-rate mortgages, 3.81 percent for 15-year fixed-rate mortgages and 3.32 percent for 5/1 adjustable-rate mortgages, according to LendingTree’s Weekly Mortgage Rate Pulse.

On the same day, mortgage rates offered by lenders on the LendingTree network were as low as 3.75 percent for a 30-year fixed-rate mortgage, 3.25 percent for a 15-year fixed-rate mortgage and 2.75 percent for a 5/1 adjustable-rate mortgage.

The lowest rate offered in North Carolina was 3.75 percent, while the lowest rate offered in South Carolina was 3.88 percent.

The Mortgage Rate Pulse is published every Wednesday and reflects actual rates offered to borrowers by lenders on the LendingTree network.

Tara Ramsey can be reached at tara.ramsey@mecktimes.com.

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