Mortgage Rates Bottom Out to Lowest Level Since 1971

This is all according to Freddie Mac, one of America’s biggest buyers of home mortgages, the national average mortgage interest rate for a 30-year, fixed mortgage fell to 4.49%, which is the lowest level since Freddie Mac began tracking the rates in 1971.

Could this be the best time to buy real estate in Texas and on Lake Conroe?   The last time rates were this low was in the 1950s.

Primary Mortgage Market Survey®

August 5, 2010

  30 Year 15 Year
Average Rate 4.49 % 3.95 %
Fees/Points 0.7 0.6

Next Rate Update: August 12, 2010

Freddie Mac, is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Learn more about how they make home possible at http://www.freddiemac.com/

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