Mortgage Rates at Record Low This Week

30 Year Mortgage Rates Sink to 4.69 Percent

Lowest Rate on Record

Mortgage rates sank to new lows this week, according to news released on Thursday.  Thirty year mortgage rates hit 4.69 percent, down from 4.75 percent last week and below even December's record low. 

The last time a mortgage cost less was in the 1950s.  Mortgage rates have never been lower since records started being kept in 1971.  And in the 1950s, an average long-term mortgage term was 20 or 25 years, not 30 years.

Mortgage rates are collected every Monday through Wednesday from lenders around the country.  Rates often change, even within the same day, so speak to your lender about locking your rate in.

Fifteen year fixed rate mortgages fell from 4.2 percent last week to 4.13 percent this week, the lowest level since at least 1991. 

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