Mortgage Rates Hit All-time Low

The rate has been tracked since 1971.

Freddie Mac today released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage averaged the lowest rate in our survey’s history which dates back to 1971. “The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history. Meanwhile, mortgage applications increased 10% last week from one year ago and show no signs of slowing down,” said Sam Khater, Freddie Mac’s Chief Economist. “Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy.”