By E. Scott Reckard
October 23, 2014

The lowest mortgage rates of the year sank a bit lower this week, with Freddie Mac reporting that lenders were offering 30-year fixed loans at an average of 3.92%, down from 3.97% a week ago.

The average rate for a 15-year loan also ratcheted down, from 3.18% to 3.1%, according to Freddie Mac’s weekly survey, offering borrowers an inexpensive way to pay their mortgages faster.

With inflation running below the Federal Reserve’s target of 2% and consumer prices up just 0.1% in September, investors are accepting rock-bottom returns on mortgage bonds guaranteed by Freddie Mac and Fannie Mae, the housing finance giants.

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