Mortgage Rates Plummet – 15-Year Fixed Below 3 Pct


house-mortgageIf you can get a new mortgage or refinance an existing one, interest rates have fallen to incredible new lows.

Interest on a 15-year loan has dropped below 3 percent for the first time ever, according to data from Freddie Mac.

The average rate on the 30-year loan fell to 3.75 percent. That’s down from 3.78 percent last week and the lowest since long-term mortgages began in the 1950s.

The 15-year mortgage rate is down to 2.97 percent this week from 3.04 percent last week. The 15-year loan is often used for refinancing, that is if you can get the bank to call you back and then meet the requirements.

If the economy doesn’t fall apart in other ways, these low rates may help the housing market as we are now in the buying season.

{Yahoo News/ Newscenter}


  1. now is the time to buy a house in ISRAEL-not america-before Mashiach comes.

    until then prices will continue going down in the U.S.A. keep your eyes open as the economy gets worse & worse due to below….

    Why is the economy so bad today? Why is the whole world going down? For the past thousands of years there was always Avoda zara in the world-from the molech to the baal to the asheira tree etc…-todays avoda zara is MONEY, we are a servant to money, we serve money, we let money talk & rule us. Thus we leave Hashem no choice but to take it away from us Rachmana L’tzlan. But if a person can use his money the right way & remember that it all comes from Hashem (even though he earned it through work)& it was just loaned to him, then he is the perfect person to continue holding Hashem’s money.