Plano Homes : Mortgage Rates Fall to All-Time Lows

Plano Homes : Mortgage Rates hit all-time lows

Plano Homes : Mortgage Rates hit all-time lows

They keep going….Just when it looks like rates won’t go any lower, they dip again.

Source : CNN Money

The average rate on the 30-year fixed mortgage fell to 3.94%, matching the all-time low hit in early October, according to Freddie Mac’s weekly mortgage rate survey. Meanwhile, 15-year fixed-rate loans hit a new record low of 3.21%, surpassing the record set on October 6.

Five-year adjustable rate mortgages also plumbed new depths, hitting 2.86% for the week.

“We’ve been hanging around record lows for a few months now and we finally hit another one,” said Keith Gumbinger of HSH Associates, a provider of mortgage data.

Low-interest mortgages will be available at least through mid-2012, according to Freddie Mac’s chief economist, Frank Nothaft.

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About hunterwebb

I am a 26 year old real estate agent in The Dallas Fort Worth Metroplex. In my downtime I enjoy watching sports, reading a goodbook, and grilling up a good meal.

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