Dec. 18--Average fixed mortgage rates hit a new low for the year, Freddie Mac said Thursday.
The average rate on a 30-year mortgage declined to 3.8 percent this week, down from last week's 3.93 percent and 4.47 percent for the same week a year ago.
On a 15-year mortgage, the average fixed rate was 3.09 percent. That compared with 3.20 percent last week and 3.52 percent a year earlier.
The decline followed a drop in 10-year Treasury yields, which closed at their lowest level since May 2013.
