Mortgage rates hit new lows for 2011

Think mortgage rates couldn't go down any more? You wouldn't be alone, but they just hit the lowest point of 2011 according to HousingWire.com.

The 30-year, fixed-rate mortgage rate fell to 4.6% in the most recent Freddie Mac Primary Mortgage Market Survey, reaching a new low for 2011.

That compares to a rate of 4.61% a week earlier and 4.84% last year. The 15-year, FRM followed suit, averaging 3.78%, down from 3.8% a week earlier and 4.21% last year.

“Fixed mortgage rates eased slightly for the sixth consecutive week amid reports of slower economic activity," concluded Frank Nothaft, vice president and chief economist, Freddie Mac.

Justin Landis
Keller Williams Realty
justin.landis@kw.com
404-803-0471