Thursday, January 12, 2012

Rate on 30-year mortgage drops to record 3.89 percent

Associated Press, by Derek Kravitz - Jan. 12, 2012 10:48 AM
WASHINGTON - Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes.

Freddie Mac says the average rate on 30-year fixed mortgages fell to 3.89% this week. That's below the previous record of 3.91% three weeks ago.

The average on 15-year fixed mortgages ticked down to an average 3.16% from a record 3.21% three weeks ago.

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