30-Year Fixed Loans Below 4.5%

Freddie Mac reports loan rates hit a new low. 15-year fixed rate loans are under 4%

Palm Coast, FL – August 6, 2010 – Freddie Mac reported that the interest rate on 30-year fixed loans hit a record low of 4.49 percent last week. The rate was 5.22 percent a year ago. Other numbers in the report are:

Mortgage Interest Rates

  • 5-year ARM 3.63 percent
  • 1-year ARM 3.55 percent
Reportedly, rates continue to drop. Next week’s report from Freddie Mac will likely report more record lows.
2 replies
  1. nene39
    nene39 says:

    True, but….

    I have a problem getting a fixed mortgage and even though I have good credit and enough income, I don’t qualify for refinancing to pay on what I owe on my HELOC (which I used to buy a rental property, etc.), because my house will not appraise (underwater) (Although the HELOC interest is only 2.75% p.a., and might stay there for another year or so, I don’t mind paying current fixed mortgage interest rate, at least I know it’s not going to get any higher. I have no mortgage on other properties but my primary home is the only one I need refinancing on. I’m paying interest only and has not defaulted on any payment, I also pay all my credit card bills in full when due,
    I can pay another $1K on principal monthly but it will be a very long time to pay the principal off, in the meantime I get very nervous about the interest on it getting higher sometime, maybe not soon, but I still want to have peace of mind about it.
    Can you give me any idea on where to go or what to do?
    Thanks, Toby….

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