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Another week of of interest rates hitting record-breaking lows!

After June’s lackluster employment report interest rates hit all-time lows once again!  Rates for the weekend ending July 12, 2012 were as follows:

– 30-Year Fixed Rate Mortgage – Averaged 3.56% with an average .7 point. This is a decrease from last week’s average of 3.62%. Last year at this time, 30-Year FRMs averaged 4.51%.

– 15-Year Fixed Rate Mortgage – Averaged 2.86% with an average .7 point. This is a decrease from last week’s average of 2.89%. Last year at this time 15-Year FRMs averaged 3.65%.

– 5-Year Treasury Indexed Hybrid Adjustable Rate Mortgage – Averaged 2.74% with an average .6 point. This is a decrease from last week’s average of 2.79%. Last year this time 5-Year ARMs averaged 3.29%.

– 1-Year Treasury Indexed Adjustable Rate Mortgage – Averaged 2.69% with an average .4 point. This is a decrease from last week’s average of 2.68%. Last year this time 1-Year ARMs averaged 2.95%.

Where Do You Dwell