US Mortgage Rates Fall To Record Low For Sixth Week

U.S. 30-year fixed mortgage rates dropped to a record low for the sixth consecutive week on poor economic data, mortgage financier Freddie Mac said Thursday.

The 30-year rate fell to 3.67 percent in the week ending June 7, from 3.75 percent, in the prior week, and 4.49 percent in the same period last year. The 15-year rate fell to 2.94 percent, from 2.97 percent.

Fixed mortgage rates reached new record lows for the sixth consecutive week as long-term Treasury bond yields declined further following downwardly revised economic growth and job creation data, said Frank Nothaft, Freddie Mac's chief economist.