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3.94%: Mortgage Rates Match Record Low

  • December 15th 2011

by Shilpi Paul

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3.94%: Mortgage Rates Match Record Low: Figure 1

Mortgage rates dropped to match the all-time record low this week with Freddie Mac reporting 3.94 percent with an average 0.8 of a point as the average on 30-year fixed mortgages this morning. Earlier this week, Freddie Mac announced that mortgage rates will likely remain low for most of 2012.

From Frank Nothaft, Freddie Mac’s chief economist:

Mortgage rates were at or near all-time record lows this week amid a rough environment for housing. In its December 13th monetary policy announcement, the Federal Reserve reiterated the housing market remains depressed.

As UrbanTurf has said before, the rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get. A July article in The Wall Street Journal goes into more detail about this.

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

3.94%: Mortgage Rates Match Record Low: Figure 2

See other articles related to: freddie mac, interest rates, mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/3.94_mortgage_rates_match_record_low/4777.

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