Mortgage Rates Reach Historic Lows For Second Straight Week

by Categorized: Banks, Uncategorized Date:

Fixed mortgage rates hit a record low nationally for the second straight week, with 30-year loans at 3.31 percent and 15-year loans at 2.63 percent, according to figures released Wednesday by Freddie Mac.
A week ago, the 30-year rate was 3.34 percent and the 15-year rate was 2.65 percent.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Fixed mortgage rates continued to ease somewhat this week to record lows and should help the ongoing housing recovery,” says Frank Nothaft, Freddie Mac’s vice president and chief economist. “Already, new construction on homes was up 3.6 percent in October to the strongest pace since July 2008.”

Here are the numbers in New England:

This week:
30-year: 3.35 percent
15-year: 2.66 percent

Last week:
30-year: 3.38 percent
15-year: 2.68 percent

A year ago
30-year: 3.98 percent
15-year: 3.30 percent

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