30-Year Mortgage Rate at 4.17%; Hits 40 Year Low

There is some good news believe it or not in the real estate market. According to Freddie Mac, in November the 30-year fixed mortgage rate hit a 40 year low when it dropped to 4.17.  Last week rates inched up to 5.05% but then slipped back down to 5%.

The average rate for a 15-year fixed mortgage slipped to 4.27% from 4.29%. In November it hit a record low of 3.57% which was the lowest rate on record since 1991.

This blog-bit has been brought to you by Renee Porsia, Associate Real Estate Broker with RE/MAX Action Realty and published Author.

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