A 15-year fixed-rate loan averaged 3.07%, also an all-time low, besting the 3.12% rate from a month ago. A year ago the rate stood at 3.89%.
The interest rate on a Treasury-indexed hybrid 5-year adjustable-rate mortgage loan remained at 2.85%, down from 3.47% a year ago.
According to a Freddie Mac executive:
Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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