Mortgage Rates Near Record Lows

I generally don’t get too excited about little movements in interest or mortgage rates, but they are moving into record-low territory.

It could truly be worth considering refinancing if you are going to stay in your home awhile.

Mortgage-finance company Freddie Mac said last week the average rate stood at 4.72 percent. The record low was 4.71 percent. This is the kind of rate your grandfather or great-grandfather might have paid. Even 15-year mortgages are dropping.

See this related chart from Bankrate.com:

For further information:

• “Mortgage Applications Fall Despite Lower Rates” (USA Today)
• “Will Rates Go up, Down or Remain Unchanged?” (Bankrate.com)
• “Should You Finance Life Insurance Premiums?” (Bankrate.com)
• “Good Debt Affects Credit Longer Than Bad” (Bankrate.com)