Housing Policy

Mortgage Rates Hit Record Lows … Again

Due to QE3

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Mortgage rates fell to a new record low after the Federal Reserve's decision to buy billions in home loans continued to ease costs for home owners and buyers.

The average 30-year fixed-rate mortgage fell to an all-time low of 3.36%, according to a weekly survey by mortgage finance backer Freddie Mac. The rate dropped from 3.40% the previous week.

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  1. It can be hard to imagine better times for those who are considering buying a house. Mortgage rates are record low today and that makes buying a house really affordable. The most important is consumers were able to pay off these mortgages, because sometimes people take out mortgages with low interest rates thinking that it’s totally okay for them to repay these debt, but then fail and loose a house. With these low rates there should be special programs available for homeowners, which would explain them how to pay off the debt and avoid foreclosure. Any case, it’s a good new that more Americans can apply for low interest rate mortgages and move in their new homes.

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