The 30-year fixed-rate mortgage fell to a record low of 4.01% in the week ending Sept. 29 from 4.09% in the prior week, Freddie Mac reported on Thursday. “Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities,” said Frank Nothaft, Freddie Mac’s chief economist, in a released statement.
A look at the five regions in Freddie Mac’s data, saw the rate hit 3.95% in the West, 4.01% in the Northeast, 4.02% in the North Central area, 4.08% in the Southwest, and 4.09% in the Southeast.
A year ago, the overall 30-year fixed-mortgage rate was at 4.32%. The average rate on the 15-year fixed-rate mortgage also hit a record low in this week, ticking down to 3.28% from 3.29% in the prior week.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage remained at 3.02%, while the 1-year Treasury-indexed ARM ticked higher to 2.83% from 2.82%.
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