Mortgage Rates Plummet to Record Lows as Economy Wobbles

From RealTrends.com: Mortgage rates fell sharply this past week, hitting record lows, as bond yields declined and signs of a weakening economy dampened consumer sentiment further, according to Freddie Mac’s latest Primary Mortgage Market Survey.

The 30-year, fixed-rate mortgage hit its lowest level of 2011, coming in at 4.39% compared to 4.55% last week and 4.49% a year ago. The 15-year FRM hit a historic low of 3.54%, down from 3.66% last week and 3.95% last year.

In addition, 5-year, adjustable-rate mortgages also reached a historic low of 3.18%, down from 3.25% last week and 3.63% last year.