Mortgage rates have hit a new low. The average rate for a 30-year fixed-rate mortgage fell to 4.44 percent this week, the lowest since Freddie Mac began keeping records in 1971. That's down from 4.49 percent last week and from 5.19 percent a year ago. The rate is the lowest recorded since 1953, according to the National Bureau of Economic Research, when loan terms were shorter. Rates for 15-year mortgages dropped to 3.92 percent, the lowest rate on record and down from 3.95 percent last week. Despite the low rates, consumers have not been trying to refinance or purchase homes. Maybe it's because you need a job for that?
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—Nsenga K. Burton