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3.53: Another All-Time Low for Mortgage Rates

  • July 19, 2012

by Shilpi Paul

3.53: Another All-Time Low for Mortgage Rates: Figure 1

Yet again, mortgage rates dropped to an all-time record low this week.

This morning, Freddie Mac reported 3.53 percent with an average 0.7 point as the average on a 30-year fixed mortgage. With the exception of one week, rates have been below 4 percent for all of 2012.

From Freddie Mac vice president and chief economist Frank Nothaft:

With little signs of inflation and the Federal Reserve’s “Operation Twist” keeping U.S. Treasury bond yields in check, fixed mortgage rates are remaining low and helping to stir the housing market.

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

Here’s a look at the path of rates since January 2010:

3.53: Another All-Time Low for Mortgage Rates: Figure 2

See other articles related to: mortgage rates, freddie mac

This article originally published at http://dc.urbanturf.com/articles/blog/3.53_another_all_time_low/5792

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