Chart of the Day: Mortgage Rates Hit Record Lows
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.98% with an average 0.7 point for the week ending March 19, 2009, down from last week when it averaged 5.03%. Last year at this time, the 30-year FRM averaged 5.87%. The 30-year FRM has not been lower since the week ending January 15, 2009, when it hit an all-time low of 4.96% in Freddie Mac's weekly survey survey.
MP: Watch for the Housing Affordability Index to reach a new record high on its next release.