What Low Mortgage Rates Mean for Borrowers
Mortgage rates this low have not been seen in almost 50 years, prompting both sellers and buyers to take advantage of record-level savings on their mortgage. According to Freddie Mac, the average 30-year fixed-rate mortgage hit a record 3.29 percent this past week, which is the lowest level in its nearly 50-year history. Mortgage applications, meanwhile, increased 10 percent last week from one