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.
updated Sep 28, 2012
Katrina Gutierrez is a writer at GET.com, a lifestyle and personal finance website. Email: firstname.lastname@example.org.
At GET.com it's all about your saving and getting experience. There's nothing more helpful for all of us Getters than a true life experience, a tip or a trick relating to a reviewed product. Read more about comments.
Sign up to get our newsletter with money saving tips, deals and coupons - no spam.
discounts & deals from all banks in one app?
At GET.com we compare credit cards and rate them objectively based on the credit card's features, interest rates and fees.
Cards are rated by our team based primarily on the basis of value for money to the cardholder. The GET.com team rates each card based on its annual fee, rewards, benefits, bonus, introductory APR, ongoing APR, flexibility (in how its benefits can be used and how rewards are earned and redeemed), and other card features.