As investors sought safety in the bond market as a potential conflict with Iran emerged this past week, mortgage rates dropped to their lowest level since October.
The 30-year fixed-rate mortgage averaged 3.64% during the week ending Jan. 9, down eight basis points from the previous week, Freddie Mac FMCC, +0.64% reported Thursday.
The rate on the 30-year mortgage is nearly a full percentage point lower than it was at this same time a year ago, when rates averaged 4.45%.
