Mortgage Rates Drop to New Record Low
Freddie Mac reported on Thursday that the average rate on the 30-year fixed mortgage dropped to 3.89 percent, which is lower than the previous record of 3.91 percent ( reached three weeks ago). Records for mortgage rates date back to the 1950s.
Meanwhile the average on the 15-year fixed mortgage fell to 3.16 percent, down from a record 3.21 percent also reached three weeks ago.
Interested in how different mortgages and rates affect monthly payments? Check out our handy Wahomeowners Calculators to see!