U.S. Mortgage Rates Fall With 30-Year at a 19-Month Low

U.S. mortgage rates dropped to the lowest level in more than a year and a half as falling oil prices and concerns about the strength of the euro drove investors to the safety of the U.S. government bonds that guide borrowing costs.

The average rate for a 30-year fixed mortgage tumbled to 3.73 percent from 3.87 percent last week, Freddie Mac said in a statement today. The average 15-year rate declined to 3.05 percent from 3.15 percent, the McLean, Virginia-based mortgage-finance company said.