Mortgage Rates Fall to 2011 Lows

Fixed mortgage rates hit the lowest level of the year for the third straight week. Freddie Mac said that the average rate on a 30 year loan fell to 4.6 % from 4.61%. Rates have fallen for six weeks in a row. They tend to track the yield on the 10 year Treasury note which crept lower this week on worries over Europe’s ongoing debt crisis.