Mortgage Rates At Record Lows

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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About Danny Fisher

Danny is the old hat at Active Investor. One of the been around the block a few times traders, his main focus is on overall market conditions. Be it some new merger talk or Washington being Washington, you can expect Danny will be on top of it.

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