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U.S. Mortgage rates hit new historic record lows

Posted on 27 November 2012

According to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS),fixed mortgage rates in the U.S. found new record lows for the second consecutive week keeping borrowing costs attractive to support the ongoing housing recovery.
Frank Nothaft, vice president and chief economist of Freddie Mac says, “Fixed mortgage rates continued to ease somewhat this week to record lows and should help the ongoing housing recovery. Already, new construction on homes was up 3.6 percent in October to the strongest pace since July 2008. In November, homebuilder confidence rose for the sixth straight month to its highest reading since June 2006 according to the NAHB/Wells Fargo Housing Market Index………………………………………..Full Article: Source


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