January 13th, 2012 
davidguide New York, NY, United States (AHN) – If it sounds like you have heard this before you are right. Mortgage rates have fallen once again to a record low.
On Thursday, mortgage giant Freddie Mac reported the average rate on 30-year fixed mortgages fell to 3.89 percent in the current week. That is below the previous record low set three weeks ago of 3.91 percent.
The average on 15-year fixed mortgages inched down to an average 3.16 percent from a record low of 3.21 percent, also set three weeks ago.
Average fixed mortgage rates remained around 4 percent for most of 2011, but the record low rates did little to help the ailing housing market. Banks have been extremely tight with credit, few qualify for the record low rates and other don’t have the money to refinance.
And while foreclosure filings fell in 2011, the declines were attributed to procedural delays.
On a bright note, most experts agree that the worst of the housing market crisis is over.
View full post on All Stories
Posted in 
Tags: 