Mortgage Rates At 9 Week Record Low!

Mortgage rates on a fixed-rate mortgage tracked by Freddie Mac hit new lows this week, with 30 year fixed-rate loans averaging 4.42 percent.  This is down from 4.44 percent the previous week and down almost 3/4 a percent a year ago.


"Investors in long-term bonds appear very confident that inflation will remain in check, and as a result long term fixed mortgage rates have continued flat", said Amy Crews Cutts, Freddie Mac's deputy cheif economist.


Rates on a 15 year fixed-rate mortgage aveaged 3.9 percent, down from the previous week.  This was a low dating back since 1991.


Rates on 5 year Treasury Inexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.56 percent, down a full percent point from the previous year.


Rates have been dropping for 9 straight weeks to record lows, with no forecast for upward change anytime soon.