Mortgage rates have hit a new record low for the 10th time in 11 weeks as investors continue to turn to Treasury Bonds as a safe haven; the shift in money is cutting yields, which mortgage rates tend to follow.
Freddie Mac reports that 30-year fixed loans averaged 4.32 percent, down from 4.36 percent a week ago; and the 15-year fixed rate fell to a new low of 3.83 percent, down from 3.86 percent.
As I commented in my last posting, this is 'free' money. Does anyone remember the days of 15%, 18%, 21% mortgage rates? Umm.. guess that would telling our age now wouldn't it?
Have a nice Labor Day weekend. Until next time - "Live Aloha"..... Meg
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