The average rate for a conforming 30-year mortgage ticked down to 4.12 percent over the past week, matching the 2014 low last recorded in May and the lowest rate since October of 2013 when it dipped to 4.10 percent.

Averaging around 6.7 percent over the past twenty years, the 30-year rate hit a three-year high of 4.58 percent this past August and an all-time low of 3.31 percent in November of 2012.  The rate was 4.40 percent at this time last year.

Having forecast the average rate for a 30-year fixed mortgage would begin rising in the second half of 2014 and end the year at “around 4.6 percent” in May, Freddie Mac lowered their forecast last month and now expects the average 30-year fixed mortgage rate to end the year at “around 4.4 percent.”

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