New Record Low for Mortgage Rates

According to a new survey released by Freddie Mac announced the lowest 30 year mortgage rate at 4.57%. These mortgage rates are linked to the yields on Treasuries and also the yields on mortgage-backed securities.

In an article for Reuters written by Julie Haviv:

While low rates and high affordability have helped the housing market gain ground, it has struggled in recent months given stubbornly high unemployment and mounting foreclosures. Home loan refinancing, however, puts more cash into consumers’ hands to funnel into the U.S. economy and could help many homeowners avoid foreclosure.