The 15-year fixed rate mortgage fell to 2.61% today, down from 2.64% last week. These low interest rates haven’t been seen since Nov 2012. Freddie Mac released its rates update today showing national rates dropping on a continued slide, across the board. For four weeks in a row, the most popular, 30-year fixed rate mortgage is on a decline, falling a one basis point to 3.40%.
Variable mortgage rates were also down, 5/1 ARMs being the biggest winner loosing 2 basis points down to 2.58% and one-year ARMs lost a single point to reach 2.62%.