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Mortgage rates once again at historic lows

By Dan Miller

Real Estate Agent with RE/MAX Preferred, Madison, Wisconsin

August 06, 2011 03:42 AM

According to a recent Freddie Mac mortgage market survey, the average commitment rate for a 30 year fixed rate loan in the month of July was 4.55%. The average rate for a 15 year fixed rate loan was 3.68%.

The graph below shows the average commitment rates for the month of July versus every year dating back to 1992. Rates have been trending steadily lower this year.

This graph shows the average rates for the last 20 weeks. Rates have moved even lower in August. The average rate for a 30 year fixed rate loan was 4.39%. The average rate for a 15 year fixed rate loan was 3.54%.

For our full mortgage update, check out the buyer tools page at DaneCountyMarket.com.

Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com

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Lori Bowers

La Quinta, CA

The Lori Bowers Group

Now is the time to refinance or buy a home. It sounds like interest rates will be increasing as early as next week.

Aug 06, 2011 03:43 AM

Randy Mitchelson,APR

Marketing Advisor & Squeeze Mortgage - Bonita Springs, FL

First Impressions are made at First Click

With the U.S. prinitng press trying to stimulate the economy, I think the window is slwoly closing on this historically low interest rate environment. If things weren't so critically worse in Europe, there'd be much less demand for U.S. paper. We are going to reach a tipping point before too much longer that will trigger an inflationary escalation of interest rates. Anyone have a crystal ball handy?

Aug 06, 2011 06:25 AM

Mortgage rates once again at historic lows

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