Fixed-Rate Mortgages Continue To Sink to New Record Lows

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) for the week ending September 15, 2011. Fixed-rate mortgages remain near their 60-year lows as ongoing investor concerns over the European debt crisis keeps Treasury bond yields low. The 30-year fixed averaged 4.09 percent, a new all-time low. The 15-year fixed, a popular refinancing option, also reached a never before seen low for the week averaging 3.30 percent.

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Eurozone debt, weak U.S. employment reports, and Fed pessimism placed downward pressure on bond yields and pushed fixed mortgage rates to new lows this week.

Freddie Mac  released the results of its Primary Mortgage Market Survey® (PMMS^®) for the week ending September 8, 2011, showing mortgage rates, both fixed and adjustable, hitting record lows amid market and employment concerns and economic uncertainty. The previous record lows for fixed mortgage rates, and the 1-year ARM, were set the week of August 18, 2011. The 5-Year ARM matched its all-time low set last week at 2.96 percent.

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Weaker economic data reports eased upward pressure on mortgage rates this week and kept them at or near all-time record lows said Freddie Mac for week ending 9/1/11.

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) for the week ending September 1, 2011, showing mortgage rates declining amid continued weak economic and housing data. While the 30-year fixed held steady, the 5-year ARM set a new all-time record low having fallen for the eighth consecutive week and now standing at 2.96 percent.

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