30-Year Mortgage Rates Fall to Historic Low
The average 30-year fixed mortgage rate fell to an all-time historic low of 5.19% today, according to data available from the FHLMC (Freddie Mac), see news reports here and here. These historic low mortgage rates should be important "mustard seeds" that will help the real estate market recover and heal. Watch for the Housing Affordability Index to reach historical record highs in the coming months.
Update: Historical data to 1971 available here.