Saturday, January 17, 2009

Mortgage rates reach new lows

Every Thursday Freddie Mac publishes the results of its weekly mortgage market survey. This week, for the first time in recent memory, the average rate for a 30 year fixed rate loan dipped below 5% to 4.96%. The average rate for a 15 year fixed rate loan fell to 4.65%.

Here's how the Freddie Mac survey results have trended over the last 20 weeks:


This graph shows the monthly averages for 2008 and the annual averages for every year spanning from 1992 to 2007.


Will rates trend even lower? Some people in the field think they will. Whether they do or not, the graphs above make it clear that rates right now are as good as they've ever been. If you've been thinking of buying or refinancing, you'll find these links helpful. This link includes current rates from local lenders. This link includes mortgage calculators from local lenders. You'll also find plenty of other useful links and articles on the buying real estate page at DaneCountyMarket.com.

1 comment:

aruna26 said...

If a consumer cannot afford their credit card payments, due to loss of income, they likely they will remain indebted for years and years or be forced into bankruptcy. Bankruptcy is obviously bad for our economy, because everyone ends up paying for it.Even I had to choose between selling my house or let the bank do it's stuff.