15-Year Fixed-Rate Mortgage Hits Record Low

Posted by Jace Stolfo on Friday, August 5th, 2011 at 11:36am.

Mortgage Interest Rates dropped significantly this week with the 15 year fixed-rate (FRM) & 5-Year ARM hitting record lows (1).

According to the Primary Mortgage Market Survey (PMMS), the 15-year FRM averaged 3.54% this week while the 5-year ARM averaged 3.18%.  The  30-year FRM hit its lowest level in 2011 averaging 4.39%.

Idaho Central Credit Union was offering a 15-year fixed rate mortgage today & yesterday for 3.25% which is the lowest I could find locally.  Call Sean Palmer at Idaho Central Credit Union for a quote of today's rates: (208) 846-7109.

(1) Source: http://freddiemac.mediaroom.com/index.php?s=12329&item=48837

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