Mortgage Rates Drop to Another New Record Low

Mortgage Rates Drop to Another New Record Low

As reported by Freddie Mac on Thursday, the average rate on the 30-year fixed mortgage dropped this week to a record low of 3.87 percent. This is the ninth time rates have hit a new record low within the last year.

The average on the 15-year fixed mortgage dropped to a record low of 3.14 percent.

Rates for mortgages are at the cheapest on record, which date back to the 1950s.

If you are in a position to buy, now is an excellent time with both housing prices and mortgage rates so low. Check out our Homeownership Simplified section for helpful information on buying a home in Washington State!

Interested in how different mortgages and rates affect monthly payments? Check out our handy Wahomeowners Calculators to see!