This week, all mortgage rates in the US have gone lower, once again reaching new record-low levels which haven't been seen in over 40 years. These are by far the best mortgage rates that have been seen in nearly half a century.
30-year mortgage rates decreased this week by 0.09%, from 3.49% last week to 3.4% this week, which is a new record-low mortgage rate that hasn’t been seen in over 4 decades.
15-year fixed-rate mortgages have also decreased from 2.77% last week to 2.73% this week. This drop in interest rates has created a new record-low rate for 15-year mortgages in more than 40 years.
5-year adjustable-rate mortgages have also decreased from 2.76% last week to 2.71% this week, which is only 0.02% above the lowest rate these mortgages have reached in the last few decades.
After 3 consecutive weeks of record-low 1-year adjustable-rate mortgages at 2.61%, this rate has finally decreased again. The drop that occurred this week brought the interest rate down to 2.6%, creating a new record-low for the 1-year mortgage rate.
If you want to refinance your home or purchase a new home, I recommend that you take advantage of these low mortgages rates now, while they’re still at these low levels.
Katrina Gutierrez is a writer at GET.com, a personal finance website. Email: firstname.lastname@example.orgEditorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.