RateAPY

30-year Mortgage Rates Near All-Time Record Low at 4.72%

Posted by: RateAPY Bank Rates News
June 11th, 2010

According to Freddie Mac, mortgage rates this week “hover near the record low set on December 3, 2009.” The Primary Mortgage Market Survey (PMMS) has been tracking mortgage rates since April 1971. Since the PMMS survey began, shortly after Congress established Freddie Mac, 30-year mortgage rates have only ever been 0.01% lower than they are this week.

Average Conforming Mortgage Rates for June 10, 2010

• 30-year fixed rate mortgage - 4.72% with 0.7 points
• 15-year fixed rate mortgage - 4.17% with 0.7 points
• 5/1-year ARM - 3.92% with 0.7 points and 2.75% margin
• 1-year ARM - 3.91% with 0.6 points and a 2.76% margin

Refinancing Has Never Been Better

With current mortgage rates only 0.01% off the historic low, refinancing opportunities abound. Contact a home mortgage specialist today to see if refinancing can put more money in your pocket. Check current mortgage rates now.