Friday, October 7, 2011
Mortgage rates hit record lows
With long-term mortgage rates hitting a record low, the buyers' market in
residential real estate has shifted from pretty good to unbelievable. The
average interest rate on a 30-year fixed mortgage has fallen to 3.94%,
according to Freddie
Mac. That's the lowest it's been since the federally chartered mortgage
processor started keeping track in 1971.