Interest rates continue to stay EXTREMELY low! At the end of this past week rates for 30-year fixed rate mortgage were 3.99% with an average of 0.7 points according to Freddie Mac. By comparison last year at this time the interest rate on the same product was a still very attractive 4.61%. Even lower rates are achieved with a 15-year fixed rate mortgage, averaging this last week 3.27% with 0.8 points. Hopefully rates continue to stay low in the near future, but eventually these record setting rates will have to climb and make purchasing a home with financing more expensive.
