The rate on a 30-year fixed hit a new low this week of 2.67 percent, according to Freddie Mac. It’s the first time the average 30-year rate has ever fallen below 2.7 percent in Freddie Mac’s survey.
Meanwhile, the 15-year fixed mortgage rate also reached a new record of 2.21 percent.
30 Year Fixed: 2.67 percent, down from 2.71 percent last week. At the same time last year, the 30-year fixed was at 3.73 percent.
15 Year Fixed: 2.21 percent, down from 2.26 percent last week. At the same time last year, the 15-year fixed was 3.19 percent.
5 Year Adjustable: 2.79 percent, unchanged from last week. The same time last year, the 5-year ARM was 3.37 percent.