WASHINGTON, Jan. 23 (Xinhua) -- Mortgage rate fell in the United States last week, the U.S. Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, said on Thursday.

For the week ending Jan. 23, 30-year fixed-rate mortgage (FRM) in the United States decreased to 3.6 percent from previous week's 3.65 percent.

However, 30-year FRM, the benchmark mortgage rate, was still significantly lower than the previous year. For the same period one year ago, the 30-year FRM averaged 4.45 percent.

Besides, Freddie Mac noted that 15-year FRM this week dropped to 3.04 percent from previous week's 3.09 percent. The rate of 15-year FRM was also lower over the year and the figure was 3.88 percent for the same period a year ago.

"Rates fell to the lowest level in three months and are about a quarter point above all-time lows," said Sam Khater, chief economist of Freddie Mac.

"The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market sentiment," said Khater.

Freddie Mac is a corporation founded by U.S. Congress, aiming to promote the stability and affordability in the U.S. housing market by purchasing mortgages from banks and other loan makers. The corporation has been conducting weekly surveys on U.S. mortgage rate since April 1971. Enditem

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