U.S. Mortgage Rates Fall on Threat of Greek Default

Mortgage rates in the U.S. dropped as Europeans worrying about a Greek default beefed up investments in American mortgage-backed bonds.

The average rate for a 30-year fixed mortgage was 4 percent, down from 4.04 percent last week, Freddie Mac said in a statement Thursday. The average 15-year rate slipped to 3.23 percent from 3.25 percent, the McLean, Virginia-based mortgage-finance company said.