It’s hard to believe, but mortgage interest rates hit all time lows AGAIN. It makes me just want to buy again even though I just bought. Home financing is just so cheap right now.

Here is the break down from the latest Freddie Mac survey:

  • 30- Year Fixed Mortgages 3.89%
  • 15 year Fixed Mortgages: 3.16%
  • 5 Year ARM: 3.23

Here’s what the folks at Inman had to say about that:

Rates on 30-year fixed-rate mortgages, which have been below 4 percent for six weeks in a row, hit a new low this week in records dating to 1971. The 30-year fixed-rate mortgage averaged 3.89 percent with an average 0.7 point, down from 3.91 percent last week and 4.71 percent a year ago. For 15-year fixed-rate mortgages, rates averaged 3.16 percent with an average 0.8 point, down from 3.23 percent last week and 4.08 percent a year ago. Rates on 15-year loans, popular for refinancing, have never been lower since Freddie Mac began tracking them in 1991.

via Mortgage rates sag to new lows | Inman News.

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