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Mortgage Rates Take Another Record Dive

Posted by Bonnie Martin Designated Broker on Friday, June 22nd, 2012 at 10:47pm.

After inching back up in the previous week, the 30-year fixed rate mortgage (FRM) has again plummeted to a new low,Freddie Mac reported Thursday.

According to Freddie Mac’s Primary Mortgage Market Survey(PMMS), average mortgage rates are easing, even in the face of troubling economic signs. The 30-year FRM averaged 3.66 (0.7 point) for the week ending June 21, down from 3.71 percent the previous week. At the same time in 2011, the 30-year FRMaveraged 4.5 percent.

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