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Thirty-Year Fixed Mortgage Rates At Record Low; Rates Fall Further Today

Date:November 24, 2009 | Author:Sarah Greenleaf | Category:Mortgages

Mortgage rates for 30-year fixed mortgages fell this week, with the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace at 4.69%, down from 4.75% the week prior. This is the lowest weekly average rate on record since Zillow Mortgage Marketplace launched in April 2008. Additionally, 15-year fixed borrowers were quoted on average, 4.23% and for 5/1 ARMs, 3.69%.

This morning, the national rate for 30-year fixed purchase mortgages was 4.59%.

What are the rates right now? Will they fall further? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates.

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Responses (6)

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Kevin Benner 3:16 PM - Nov 25,2009

The Fed said at their last meeting they did not see raising rates for the foreseeable future. I can definitely see rates moving lower still in the short term but we will pay the piper down the road for sure.
Mike 8:07 PM - Nov 26,2009

I think the rates have been artificially low all year. I don’t think they can stay low much longer. The Fed is just about done with its $1.25 trillion repurchasing of mortgage securities. This artificially drove rates down. With the forces removed from the market, rates should rise.
Paul Caparas 12:54 AM - Nov 29,2009

Rates are great and buyers have to take advantage of them.
Hawaii Real Estate Broker 1:40 PM - Nov 29,2009

I agree the rates are being manipulated by the government and can not stay this low. They are going to have to start raising them to fight inflation. Another thing they have been doing is holding all the 1000′s of foreclosures off the market to try and prop up the market. I wonder what is going to happen when they start releasing them on the market.
Hawaii Real Estate Agent 10:05 PM - Dec 9,2009

The 5-year rate forecast tends to be pretty accurate as a predictor of rates:
http://www.forecasts.org/5yrT.htm
They are poised to go up at any time.