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Mortgage Rates Set Record Low, Again

  • September 8th 2011

by UrbanTurf Staff

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Mortgage Rates Set Record Low, Again: Figure 1

Long-term mortgage rates set an all-time record low this week, with Freddie Mac reporting 4.12 percent with 0.7 of a point as the average on a 30-year fixed mortgage, the lowest rate since tracking began in 1971. The previous low was set a few weeks ago, when rates hit 4.15 percent. Last week, rates averaged 4.22 percent.

From Freddie Mac vice president and chief economist Frank Nothaft:

Market concerns over Eurozone sovereign debt default and a weak U.S. employment report for August placed downward pressure on Treasury bond yields and allowed fixed mortgage rates to hit new lows this week.

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

Mortgage Rates Set Record Low, Again: 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/mortgage_rates_set_record_low_again/4112.

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