Mortgage Interest Rates Remain At Historic Record Lows For The Week Ending Feb 10, 2012...
Freddie Mac reports in its weekly mortgage survey, that mortgage interest rates continue to stay at record lows, compared to historical standards. The slowly improving housing market and economy are helping to keep mortgage rates low across the board. Historically low interest rates, combined with home prices not seen years, make this an amazing time to purchase a primary residence or rental property.
Listed below is a closer look at how interest rates are doing:
30-Year Fixed-Rate Mortgage:
The 30 Year Fixed Rate Mortgage averaged 3.87 percent last week. This time last year, the 30-Year Fixed Rate Mortgage averaged 5.05 percent.
15-Year Fixed-Rate Mortgage:
The 15-Year Fixed Rate Mortgage averaged 3.16 percent. This time last year, the 15-Year Fixed Rate Mortgage averaged 4.29 percent.
5-Year Adjustable Rate Mortgage:
The 5-Year Adjustable Rate Mortgage averaged 2.83 percent. This time last year, the 5-Year Adjustable Rate Mortgage averaged 3.92 percent.
1-Year Adjustable Rate Mortgage:
The 1-Year Adjustable Rate Mortgage averaged 2.78 percent. This time last year, the 1-Year Adjustable Rate Mortgage averaged 3.35 percent.