Thirty-year rates at 6.05 percent, 15-year rates at 5.47 percent
WASHINGTON, Sept. 19 â€” U.S. 30- and 15-year fixed-rate mortgages reached new record lows in the week ending Sept. 20, signaling a bright outlook for the housing market, despite weakness in other sectors of the economy, Freddie Mac said Thursday.
THIRTY-YEAR MORTGAGE RATES stood at an average 6.05 percent, the lowest on Freddie Macâ€™s records going back to 1971, down from 6.18 percent the previous week.
Fifteen-year mortgages fell to an average 5.47 percent â€” the lowest on Freddie Mac records dating back to 1991 â€” from 5.59 percent the prior week, it said.
One-year adjustable rate mortgages (ARM) also dipped to an average 4.28 percent from 4.32 percent. The ARM has not been lower since it stood at 4.25 percent in the Feb. 25, 1994 week, Freddie Mac said.