Mortgage Rates Stay At Record Lows (9/23/11)

Here’s the scoop on mortgage rates for the week of 9/23/2011.

30-year fixed-rate mortgages: averaged 4.09 percent, matching last week’s record-hitting average. Last year at this time, 30-year rates averaged 4.37 percent. 

15-year fixed-rate mortgages: averaged 3.29 percent, marking a new all-time record. Last week, 15-year rates averaged 3.30 percent, and a year ago at this time, it averaged 3.82 percent.

5-year adjustable-rate mortgages: averaged 3.02 percent this week, up from last week’s 2.99 percent average. Last year at this time, the 5-year ARM averaged 3.54 percent. 

1-year ARMs: averaged 2.82 percent, up slightly from last week’s 2.81 percent. A year ago, the 1-year ARM averaged 3.46 percent.

Source: REALTOR® Magazine Daily News