Mortgage Rates at All Time Low Today

By Liz Clinger Updated on 5/3/2012

According to the Freddie Mac survey, fixed rate mortgages for 30 years are at an average of 3.84% as of today. This is the lowest rate ever recorded in the survey; the previous all-time low from February 9, 2012 was 3.87%. Last week the average was 3.88% and at this time last year 4.71%.

15 year fixed rate mortgages are also at an all-time low of 3.07%, which fell from 3.12% last week, and 3.89% this time last year. Today’s rate beats its previous all-time low of 3.11% recorded on April 12, 2012.

Adjustable rate mortgages for 5-year treasury indexed loans went up from 2.78% to 2.85% but is still down from last years average at this time, which was 3.15%,

Treasury-indexed hybrid ARMs for one year remained the same 2.85% week  over week but down from last year’s 3.15%.

According to a survey from Bankrate, a home loan analytics firm, 30-year FRM went down 0.4% to 4.05%, 15-year FRM went down .03% to 3.25% and 5/1 ARM fell .01% for 3.02%.

The chief economist from Freddie Mac indicated that the economic growth rate and inflation are causing the rates to lower.