Mortgage Rates Hit Another New All-Time Low (Yet Again)

Posted On: Tuesday, September 13, 2011 - 9:57am | Posted By: Kevin Koerner

30-year fixed rate loans hit 4.12 percent last Thursday, shaving off .2 percent from last month’s record-breaking 4.32 percent, amid questions about employment and the state of the economy remain. The 15-year rate fell to 3.33 percent, also a record.

As Frank Nothaft, vice president and chief economist at Freddie Mac explained,"On net, the economy added no new jobs last month and was the weakest reading since September 2010. Meanwhile, the unemployment rate remained at 9.1 percent, marking its 31st consecutive month of being above 8 percent, the longest such stretch in 70 years."

As I’ve said before, if you are in the market for a home or are looking to refinance, this is a fantastic opportunity to do so. Rates are nearing the bottom, quite literally. [FreddieMac via Socket Site]

Kevin Koerner

Kevin Koerner has been a San Francisco Real Estate Agent since 2001.
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