Rate on 30-year mortgage declines to 3.51%

Posted by Bonnie Martin Designated Broker on Friday, March 1st, 2013 at 6:49am.

usatoday.com - Average U.S. rates on fixed mortgages moved closer to historic lows this week, a trend that has helped drive a rebound in home sales.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage declined to 3.51% from 3.56% last week. That's near the 3.31% rate reached in November, the lowest on records dating to 1971.

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