Freddie Mac released the weekly Primary Mortgage Market Survey results today, September 20, 2012. The 30-year fixed rate mortgage average returned to an historic low of just 3.49%. This is the lowest weekly average for the 30-year rate since July 26th of this year. The 15-year fixed rate dropped to only 2.77%. These all-time record lows should help an improving housing recovery.
Freddie Mac reports, "New construction on one-family homes rebounded in August, rising by 5.5 percent to the fastest pace since April 2010. In addition, existing home sales increased by 7.8 percent in August to its strongest pace since May 2010."
For more information, visit http://www.freddiemac.com/pmms/