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Bankrate finds mortgage rates dropping to new low

By Palm Beach Business.com

DELRAY BEACH — Mortgage rates over the past week continue hold at record lows amid falling consumer confidence, Freddie Mac said Thursday.  Bankrate, however, found rates dropping further, citing the continued uncertainties in Europe.

The 30-year, fixed-rate mortgage held at 3.87 with 0.8 point for the third week in a row, according Freddie Mac’s Primary Mortgage Market Survey. Bankrate’s national mortgage survey found the 30-year slipping to 4.10 percent with 0.35 point, down from last week’s 4.14 percent.

A year ago, the 30-year sat at 5.00 percent, according to Freddie.

The 15-year fixed-rate held at 3.16 percent with 0.8 point, same as a week ago. Bankrate found the 15-year dropping to 3.35 percent with 0.33 point from 3.36 percent a week ago.