Mortgage Rates Lowest in Over 50 Years!

Mortgage Rates Lowest in Over 50 Years ~ Freddie Mac reported Friday that fixed and adjustable mortgage rates have reached all-time record lows.  Last week, the 30-year fixed rate averaged 4.15% – breaking the previous record low of 4.17% set November 11, 2010 – dropping from an average 4.32% the week before and 4.42% last year at this time.  The 15-year fixed rate last week averaged 3.36%, down from an average 3.50% the week before and 3.90% last year at this time.  The refinance share of applications made up almost 70% of all mortgage activity in the first half of this year.