Mortgage Rates Hit Record Lows

You can get a fixed-rate 15-year mortgage under 4.0% but it will take a lot of work, documentation, down payment, and a stellar credit record.

The LAT reports:

Fixed-rate mortgages dropped to record lows again this week, with lenders offering the 30-year loan at an average of 3.62%, according to housing finance giant Freddie Mac.

That was down from the previous record low of 3.66%, set during the last two weeks. Freddie Mac, which has been conducting the weekly survey since 1971, said the 30-year loan has hit or matched a record low in 10 of the last 11 weeks.

Lenders were offering the 15-year fixed-rate mortgage at 2.89% this week, down from 2.94% a week ago and also a record low.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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