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3.55: Rates Down Slightly, Hover Near Record Low

  • September 6th 2012

by Shilpi Paul

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3.55: Rates Down Slightly, Hover Near Record Low: Figure 1

This morning, Freddie Mac reported 3.55 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage, down from an average of 3.59 percent last week. Rates reached their all-time record low of 3.49 percent in late July.

From Freddie Mac vice president and chief economist Frank Nothaft:

Mortgage rates were little changed over the holiday week amid mixed economic data releases. Although consumer spending rose 0.4 percent in July, representing the largest gain in five months, the core price index was unchanged suggesting little threat of inflation.

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

Here’s a look at the path of rates since January 2010:

3.55: Rates Down Slightly, Hover Near Record Low: Figure 2

See other articles related to: mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/3.55_rates_down_slightly_hover_near_record_low/5991.

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