Fixed Mortgage Rates Sink to Lowest on Record

Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of “Operation Twist.”

Data released by Freddie Mac Thursday puts the average 30-year fixed-rate mortgage at 4.01 percent (0.7 point)
for the week ending September 29. That’s down from 4.09 percent last week. A year ago at this time, the 30-year rate averaged 4.32 percent.

Of the five regions surveyed in Freddie Mac’s survey, the West region recorded the lowest average rate for the 30-year fixed dipping below the 4 percent to 3.95 percent this week.

The 15-year fixed-rate averaged 3.28 percent (0.7 point) this week in the GSE’s survey, down from last week’s average of 3.29 percent. A year ago at this time, the 15-year rate was 3.75 percent.

Freddie Mac’s survey averages mortgage rates from 125 lenders across the country.