WASHINGTON – Long-term mortgage rates declined again this week to near their lowest levels in recorded history, according to Freddie Mac.
The average for the benchmark 30-year, fixed-rate loan slipped to 3.91% this week, matching a record low of two weeks ago, while the average for the 15-year mortgage dipped to 3.23%, from 3.24%, just off the recorded low of 3.21% two weeks ago.
ARM rates also hovered near record lows, with the average for the five-year ARM slipping to 2.86%, from 2.88% last week; and the average for the one-year ARM inching up to 2.8%, from 2.78%.
“Fixed mortgage rates started the year a little lower this week just as recent data reports indicate the housing market and manufacturing industry are showing signs of improvement,” said Frank Nothaft, chief economist for Freddie Mac.
