Tags: Mortgage | Rates | record

Rate on 30-Year Mortgage Drops to Record 3.89 Percent

Thursday, 12 Jan 2012 11:55 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the rates.

Freddie Mac says the average rate on the 30-year fixed mortgage fell to 3.89 percent. That's below the previous record of 3.91 percent reached three weeks ago.

The average on the 15-year fixed mortgage ticked down to 3.16 percent. That's down from a record 3.21 percent three weeks ago.

Mortgage rates are lower because they track the yield on the 10-year Treasury note, which fell below 2 percent.

Average fixed mortgage rates hovered around 4 percent at the end of 2011. Yet many Americans either can't take advantage of the rates or have already done so.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Nick Mangold of Jets Dons NYPD Hat in Honor of 2 Slain Officers

Monday, 22 Dec 2014 12:05 PM

New York Jets center Nick Mangold wore a NYPD hat during Sunday's game against the New England Patriots in honor of New  . . .

Garth Brooks, Justin Timberlake Wow Crowd With Surprise Duo

Monday, 22 Dec 2014 11:28 AM

Country music superstar Garth Brooks joined pop sensation Justin Timberlake on stage at Nashville's Bridgestone Arena to . . .

Orangutan's Argentina Human Rights Case Settled in Her Favor

Monday, 22 Dec 2014 11:08 AM

An orangutan has been recognized by a court as a "non-human person" unlawfully deprived of its freedom by an Argentine z . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved