Today’s Mortgage Rates

March 8, 2012 by staff 

Today’s Mortgage Rates, Fixed mortgage remain a bargain at the start of the spring-buying season: The average rate on the 30-year mortgage dipped this week, while the 15-year loan fell to a new record low. A home with a sale pending sign, in Mount Lebanon, Pa. earlier this year.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.88%, from 3.90% the previous week. That’s slightly above the 3.87% average rate hit three weeks ago, which was the lowest since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage fell to 3.13%, from 3.17% a week ago.

Rates on the 30-year loan have been below 4% for three months. That has made home-buying and refinancing more attractive for those who can qualify.

The super-low rates are helping the housing market recover, albeit slowly. Home sales have been rising and the four-week average of home purchase applications was up in January and February, according to the Mortgage Bankers Association.

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