Mortgage rates dropped again this past week for the fifth straight week according to Freddie Mac’s Weekly Survey and are approaching the record lows from the end of last year. The 30 year fixed-rate was at 3.35% (down 5 basis points on the week) with 0.7% points (down 1 basis point.) These are the lowest rates since January. The 15 year fixed-rate is down all the way to 2.56%, which is basically equivalent to the 5 year ARM (Adjustable Rate Mortgage.)
Note: Chart above is dynamic and reflects current survey, updated weekly.
For TODAYS’s refinance rates, see below or more lenders at http://moneycafe.com/personal-finance/home-refinance-loans/.