It seems recently each new week brings along with it a record low interest rate on 30-year fixed rate loans. Freddie Mac reported that another record was set this week with the avearage 30-year FRM at 3.79% down from last week’s record of 3.83% Both week’s rates came along with an average 0.7 points for the loan. Also setting a new low was the 15-year fixed rate mortgage which decreased to 3.04% down from last week’s 3.05%. Also included in the release was that average one-year adjustable rate mortgages stood at 2.78%. These extremely low rates continue to make affordable housing conditions even more affordable for those looking to buy.
