Freddie Mac released its weekly mortgage rate recap for the week ending July 29, 2010. According to the report, both 30 year and 15 year fixed rate mortgages reached all-time record lows (since the survey began). 30 year rates averaged 4.54% with .7 pt which was down from the previous week when it was 4.56%. Last year at this same time, 30 year rates average 5.25%.
15 year fixed rate mortgages average a record low of 4.00% with .7 pt which was down from the previous week’s average of 4.03. A year ago, 15 year fixed rates averaged 4.69%. [Read more...]