Mortgage rates below historic four point mark again – will this last?

December 15, 2011

love money Mortgage rates below historic four point mark again   will this last?

Record lows this week

Just as we saw over Thanksgiving, mortgage rates have dropped below the historic four point mark again, according to Freddie Mac’s weekly mortgage rate survey which cites the average rate on a 30-year fixed rate mortgage currently at 3.94 percent.

The survey notes that the 15 year fixed rate mortgage rate hit a new record low of 3.21 percent, dropping below the October 6 record set, and that the 5 year adjustable rate mortgage average is 2.86 percent, also dropping to near historic lows.

Freddie Mac’s chief economist, Frank Nothaft believes low interest rate mortgages will be available through at least the middle of 2012 while Trulia’s Chief Economist, Dr. Jed Kolko predicts that rates will increase in 2012 as employment levels improve and defaults decline.

With low rates and low prices in housing, the Realtor moniker of “it’s always a good time to buy” might actually ring true right now for the consumers that can qualify for a loan and afford a down payment.

Advertise at AG

Most mortgage volume right now is refinance loans, however, which looks to remain the case in 2012. The Mortgage Banker’s Association cites that last week’s mortgage applications consisted of nearly 80 percent refinances, and although application volume rose 4.1 percent last week, the primary interest remains in refinancing as the rates hover around 4 percent.

Tara Steele is the News Director at AgentGenius, covering real estate news, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, she frequently checks her email, simply click the link below.


  1. Pingback: kristin terry

  2. Pingback: Real Estate Ninja

  3. Pingback: BHG Rand Realty

  4. Pingback: Mary Jane DiMichele

  5. Pingback: Michael Corley

  6. Pingback:

  7. Pingback: James K Barath, CMPS

  8. Pingback: Thad Schell

  9. Pingback: KW Hampton Roads

  10. Pingback: Rick Gorod

  11. Pingback: Prudential Snyder

  12. Pingback: Mark Bowen

  13. Pingback: Ed Short

  14. Pingback: OnlineMediaDesigns

  15. Pingback: billy frid

  16. Pingback: Craig Broussard

  17. Pingback: Lisa Larsen

  18. Pingback: AgentGenius

  19. Pingback: Ryan Nish

  20. Pingback: Maria Paulina Pagano

  21. Pingback: Melissa Patrick

  22. Pingback: Carol O'Hare

  23. Pingback: Karen Buonomo

  24. Pingback: Stephanie L Davis

  25. Pingback: REALeMerge

Leave A Comment