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Len & Leslie Marma's Blog

By Len & Leslie Marma | Agent in Marshfield, MA

Key Mortgage Rate Near Record Low

Key Mortgage Rate Near Record Low --- Associated Press, December 28th, 2012

Washington --- The average rate on a 30-year fixed mortgage last week fell closer to the lowest on record, a trend that is making home buying more affordable and letting more Americans refinance loans at a lower interest rate.

Mortgage buyer Freddie Mac said the average declined to 3.35%, from 3.37% the previous week.  That's not far from the 3.31% rate of about a month ago, the lowest on records dating back to 1971.  The average on the 15-year fixed mortgage was unchanged at 2.65%.  Its record low is 2.63%.  The 30-year fixed mortgage rate averaged 3.66% this year, Freddie Mac said, the lowest annual average in 65 years.


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