Mortgage Rates Hit Record Lows

From The Wall Street Journal:

Real-estate website Zillow Inc. (Z) said Tuesday its real-time rate on 30-year fixed mortgages fell to a new record low in the last week. Zillow said the 30-year fixed mortgage rate on its Mortgage Marketplace is at 3.66%, down from 3.72% a week earlier. The rate is the lowest since Mortgage Marketplace launched in April 2008, Zillow said. The company said the 30-year fixed mortgage rate peaked at 3.7% on Friday and steadily declined through the weekend, dropping to its current rate Tuesday morning. Erin Lantz, director of Zillow Mortgage Marketplace, said despite strong employment figures on Friday, the rate has remained historically low and has been hovering between 3.65% and 3.7% for the past week. “Although European headlines may drive more volatility in the coming week, we expect rates will stay near this range,” Lantz said.

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