Mortgage Rates Fall Below 4%, Lifting Hopes for Housing Rebound

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Mortgage Rates Fall Below 4%, Lifting Hopes for Housing Rebound
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Mortgage rates dropped below 4% for the first time since early last year, adding to hopes for a revival in the housing market, which has cooled after years of torrid price growth

The average rate this week on a 30-year fixed rate mortgage was at 3.99%, mortgage finance giant Freddie Mac said Thursday. That marks a fall of nearly a full percentage point from the highs of November.

Some lenders have been offering rates well below that.
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