Published on 31st May 2012
“Mortgage rates continued plummeting this week, with three of the four benchmark rates averaging less than 3% for the first time on record, according to a report released Thursday by Freddie Mac. The 15-year fixed-rate average dropped to a new record low of 2.97%, down significantly from 3.04% the week prior and far off its mark of 3.74% this time last year. Both hybrid adjustable-rate averages are also below the 3% barrier, with the five-year at 2.84% and the 1-year at 2.75%,” according to the Washington Post.