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Mortgage Rates Set Record Low, Again
Long-term mortgage rates set an all-time record low this week, with Freddie Mac reporting 4.12 percent with 0.7 of a point as the average on a 30-year fixed mortgage, the lowest rate since tracking began in 1971. The previous low was set a few weeks ago, when rates hit 4.15 percent. Last week, rates averaged 4.22 percent.
From Freddie Mac vice president and chief economist Frank Nothaft:
Market concerns over Eurozone sovereign debt default and a weak U.S. employment report for August placed downward pressure on Treasury bond yields and allowed fixed mortgage rates to hit new lows this week.
Here’s a look at the path of rates since last January:
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_set_record_low_again/4112.
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