Freddie Mac: 30-year FRM at lowest point since 1951

The 30-year, fixed-rate mortgage hit its lowest point in more than 50 years.

The Freddie Mac Primary Mortgage Market Survey reported the average rate for a 30-year, fixed-rate mortgage at 4.19% with an average 0.8 origination point for the week ending Oct. 14, down from last week's average of 4.27%. A year ago the average was 4.92%. This is the lowest rate the survey has recorded since its inception in 1971.

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