Posted by: jeb1 | August 30, 2011

Rate on 30-year Mortgage Falls to Lowest on Record

Posted on: August 19, 2011

Source: CHICAGO TRIBUNE

Mortgage rates have hit a record low, making homes even more affordable for prospective buyers. According to mortgage backer Freddie Mac’s Primary Mortgage Market Survey, the average 30-year fixed rate loan fell to 4.15% this week — its lowest level in more than 50 years. Previously, the record low was 4.17%, which was set the week of Nov. 11, 2010. Last week, the 30-year rate was 4.32%.

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