Mortgage Rates Hit Record LowsMortgage Rates Hit Record Lows - Palm Beach County Real Estate

Mortgage Rates Hit Record Lows

Mortgage Rates Drop - Palm Beach County Real EstateAverage rates for both 15-year and 30-year fixed mortgages fell to new all-time record lows this week, according to a report released by Freddie Mac Thursday. Borrowers of 30-year loans were charged an average rate of just 3.84%, down from its previous low of 3.87% set in early February, according to Freddie Mac’s weekly survey.

The average 15-year rate was 3.07%, down from the record of 3.11% set three weeks 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,” said Freddie’s chief economist, Frank Nothaft.

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