Mortgage Rates Continue to Fall - 15 Yr At New Lows

Don't look now but mortgage rates have fallen to new lows once again with the 15 year average slipping down to 3.88%. Below is a snapshot of interest rate averages pulled from Freddie Mac's weekly market survey.

30 Yr. Fixed Mortgage Rate Average: 3.88% (.7 pts)  
15 Yr. Fixed Mortgage Rate Average: 3.11% (.7 pts)
5/1 ARM Average: 2.85% (.7 pts)
1/1 ARM Average: 2.80% (.6 pts)

This is the third straight week for fixed mortgage rates inching lower.

You can check current mortgage rates and closing costs on ForTheBestRate.com. Simply click here, select your state and desired home loan program from the dropdown selection tool, and then contact the advetising mortgage companies directly to learn more about their rates and programs.  For mortgage rates on products such as investment property loans, second home financing, and/or USDA rural housing loans, you'll need to contact the various lenders and brokers individually.