Mortgage Interest Rates Hit a New Record Low

Freddie Mac’s weekly Primary Mortgage Market Survey revealed that 30-year fixed rate mortgages “averaged 3.84% for the week ending Thursday – the lowest rate ever recorded – inching down from the prior week’s average of 3.88%.” 15-year fixed rate mortgages, averaging 3.07%, decreased from the week before from 3.12% and experienced a greater decrease from a year ago when the average was 3.89%. Hybrid adjustable-rate mortgages reached 2.85%, an increase over last week when rates averaged 2.78%, but were still less than a year ago when the average rate was 3.15%.

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