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Freddie Mac, Bankrate see record low mortgage rates

By Palm Beach Business.com

DELRAY BEACH — Tame inflation and economic uncertainty teamed to push mortgage rates once again to record lows, according to both Freddie Mac and Bankrate surveys, released Thursday.

The 30-year fixed rate mortgage dropped to an average of 3.84 percent with 0.8 point, down from last week’s 3.88 percent, according to Freddie Mac’s Primary Mortgage Market Survey. That surpasses the previous record of 3.87 percent set on Feb. 9.

Bankrate’s national survey found the 30-year averaging 4.05 percent with 0.45 point, down from the previous record of 4.09 percent set a week ago.

"Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week,” Freddie Mac’s Chief Economist Frank Nothaft said.

Bankrate noted that Friday’s jobs report from the Labor Department could push rates further down.

The 15-year fixed-rate mortgage moved south as well, to 3.07 percent with 0.7 point from 3.12 percent, according to Freddie Mac. Bankrate’s survey has the 15-year at 3.24 percent with 0.39 point, down from 3.28 percent a week ago.