If you've been waiting to lock in your rate, the time to act is now.
Mortgage rates have dropped to all-time lows according to the latest weekly mortgage market survey conducted by Freddie Mac. According to survey results released on December 3rd, the average commitment rate for a 30 year fixed rate loan was 4.71%. The average for a 15 year fixed rate loan was 4.27%.
This graph puts current rates in perspective. It shows the annual averages for the years 1992 through 2007, followed by the monthly averages for each month since January of 2008.
For our full mortgage report, visit the economic trends page at DaneCountyMarket.com. You can view the latest mortgage rates updated daily on the mortgage home page at uwcu.org.
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