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Mortgage Rates Hit Historic Low 3.84 Percent

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Mortgage Rates Hit Another Historic Low (Photo by Bruno J. Navarro)

Mortgage Rates Hit Another Historic Low  (Photo by Bruno J. Navarro)

NEW YORK — Mortgage rates dropped to another all-time low this week, providing another stimulus to the strengthening housing market.

The average rate on a 30-year mortgage was 3.84 percent, according to survey results released by Freddie Mac.

That’s the lowest rate ever since long-term mortgages were introduced in the 1950s, even below the previous record low set in February.

At that rate, a $100,000 loan would mean monthly payments of about $468 per month.

Meanwhile, sales activity in the past few weeks suggest that the robustness of the condo market in Manhattan and Brooklyn recently predicted was taking hold.

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Written by Bruno

2012.05.04 at 11:03

5 Responses

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  1. […] That was even lower than the record low set earlier this month. […]

  2. […] That was even lower than the record low set earlier this month. […]

  3. […] the best time. You can still take advantage of low prices in most places around the country, and mortgage rates are at once-in-a-lifetime record lows: 30- and 15-year fixed mortgages are around 4% and 3%, respectively,” wrote Martha C. […]

  4. […] CEO Douglas Yearley said in a May 23 conference call with analysts. “Confidence is up. The interest rates are there and they’ve been waiting so long to move on with their lives that they came out this […]

  5. […] mortgage rates remain at historic lows, home prices are beginning to […]


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