On Thursday, Freddie Mac reported that it had never seen 30-year fixed mortgages at lower levels in the 39 years it has tracked them.
Rates for 15-year fixed loans also set record lows.
The 30-year fixed-rate mortgage (FRM) for well qualified buyers who have 20% down payments or equity in their homes averaged 4.69% with an average 0.7 point for the week ending June 24 … down from last week when it averaged 4.75%. Last year at this time, the 30-year FRM averaged 5.42%.
The 15-year FRM this week averaged 4.13% with an average 0.6 point, down from last week when it averaged 4.20%. A year ago at this time, the 15-year FRM averaged 4.87%.
LA Times article: Mortgage Rates Sink to Lowest Levels on Record