Thinking about buying a Home In Santa Fe, rates just got lower.

Mortgage rates fell to new lows for the week ending Feb. 2 as economic data showed weaker than expected economic growth,Freddie Mac said Thursday.

The McLean, Va.-based government-sponsored enterprise released its primary mortgage market survey, which shows the average 30-year, fixed-rate mortgage falling from 3.98% last week to 3.87%. The 30-year FRM hit 4.81% a year ago.

Meanwhile, the 15-year FRM fell to 3.14% from 3.24% the previous week and 4.08% last year. The 5-year Treasury-indexed hybrid adjustable-rate mortgage also declined from 2.85% to 2.8%.

Read more: http://www.housingwire.com/article/weak-economic-data-sends-mortgage-rates-lower