30-Year Interest Rates Hit Record Low

Posted by Jace

December 5, 2009

For the week ending 12/3/09, the average interest rate for 30-year mortgages fell to the lowest level since Freddie Mac began compiling its weekly survey in 1971. The Primary Mortgage Market Survey (PMMS) recorded the 30-year fixed rate at 4.71 percent. Rates for the 15-year fixed rate mortgage fell to 4.27 percent, down from 4.29 percent last week.

The graph below charts the PMMS weekly survey year-to-date.

Interest Rates

If you’re thinking of buying a home and you’ll be getting financing, the first thing you want to do is get pre-approved. A few great lenders that I’ve worked with can be found on the “helpful links” page of my website.

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Information deemed reliable but not guaranteed.

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