The average 30-year fixed mortgage rate has continued its record-breaking decline, falling to 6.60% for the week ending Oct. 2, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate fell to 6.27% from 6.32%, and the average rate for one-year Treasury-indexed adjustable-rate mortgages declined to 5.39% from 5.42%. Robert Van Order, Freddie Mac's chief economist, said long-term mortgage rates are "probably the lowest since 1968." (Freddie Mac's survey began in 1971.) Mr. Van Order said he expected rates to fall further, with the 30-year rate possibly hitting 6.5% or less within a week. Freddie Mac's website address is http://www.freddiemac.com.
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