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/