Mortgage News

30 & 15 Year Mortgage Rates Drop To New Historic Lows

October 5th, 2012

Freddie Mac released the weekly Primary Mortgage Market Survey results on Thursday, October 4, 2012.  The 30-year fixed rate mortgage average dropped to a new historic low of just 3.36%.  The 15-year fixed rate dropped to only 2.69%.  This is the second consecutive week that the averages has reached all-time record lows.

According to Freddie Mac the 15-year fixed-rate average fell below the 5-year ARM rate (2.72%).  "The last time the average 15-year fixed was lower than the 5-year ARM was the week ending October 15, 2009." said Freddie Mac in the October 4 press release.

For more information, visit http://www.freddiemac.com/pmms/ 

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VSCC Bureau of Financial Institutions, P.O. Box 640, Richmond VA 23218-0640, (1-800-552-7945) www.scc.virginia.gov/bfi

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