Thinking of buying? 15-year mortgage rate hits all-time record low

Source: Freddie Mac (Click to Enlarge)

Now could be your best time to buy a home or refinance the one you have as mortgage rates continuing to push lower, Freddie Mac reported today. The 30-year, fixed-rate mortgage averaged 3.35 percent this week while the 15-year, fixed rate set a new record low at 2.56 percent. Read the Freddie Mac release.

“Residential fixed investment added to overall economic growth over the past eight consecutive quarters and contributed more than 0.3 percentage points in growth over the first three months of this year. Moreover, near record low mortgage rates should further drive the housing market recovery over the near term,” said Freddie Mac Vice President and Chief Economist Frank Nothaft.

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