Mortgage rates hit record low again
May . 17 . 2012 / Thursday :
CNNMoneyBuying a home just got even cheaper as interest rates on both 30-year and 15-year-fixed-rate mortgages set record lows for the third week in a row.
The 30-year fixed mortgage, the most popular mortgage product, dipped by 0.04 percentage points to 3.79%, according to a weekly survey by Freddie Mac. Last year, 30-year loans averaged 4.64%. The new low can save borrowers $50 a month for every $100,000 borrowed. Over a 30-year term, that comes to $21,874. Read More…