Colorado mortgage rates fall to 4.65%

Colorado mortgage rates for 30-year fixed loans have dipped to 4.65 percent.

Zillow Mortgage Marketplace reports that rates are down from last week’s average of 4.66 percent and that they were were higher than 5 percent last summer.

The nationwide average was 4.66 percent.

Zillow says its figures on mortgage rates are based on borrower credit scores over 680 and a down payment of 20 percent or more.

Nationally, both mortgage applications and new home construction are on the decline.

The Mortgage Bankers Association announced that its index of applications fell 2 percent for the week ended Nov. 13 as purchase applications tumbled to a 12-year low.