Wednesday, July 11, 2012

Record low mortgage rates

It is a great time to buy or refinance in Los Angeles and other parts of the US, with reports of record-breaking low interest rates.
30-year fixed rate mortgages have broken or matched a record low in 10 of the last 11 weeks. This week continued the trend, with Freddie Mac reporting last Thursday that the 30-year loan is averaging 3.62%, a drop from the previous record low of 3.66% that was set in the past two weeks. 
The 15-year fixed rate mortgage average was also down to 2.89%, from the record 2.94% low the week before. The starting interest rates for adjustable-rate mortgages also were at or near record lows this week, Freddie Mac reported.

1 comment:

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