As mortgage rates sink deeper into record territory, homeowners are refinancing into 15-year loans at a pace not seen in a decade, aiming to pay off their debt in time for retirement. Freddie Mac’s latest mortgage rate survey showed the traditional 30-year fixed-rate loan averaged 3.75 percent last week, down from 3.78 percent last week. It was the fifth straight week of record lows. Even more eye-catching in Thursday’s survey was the average for a 15-year fixed loan — 2.97 percent, down from 3.04 percent a week ago.
Shelley Bryant, Villa Realty, Broker/Owner
Serving Lone Tree, Denver and surrounding areas.