15 Year Mortgage Rates Hit New All-Time Record Low at 2.61%

Conforming 15 year mortgage rates just hit a new all-time record low of 2.61 percent in Freddie Mac's mortgage survey, breaking through the old record low of 2.63 percent set in November 2012. This is the fourth consecutive week fixed conforming mortgage rates are lower and probably will continue to decline in the coming weeks, thanks to lower U.S. Treasury yields.

Low mortgage rates today is the main factor in helping the housing market recover from the worst housing bust since the Great Depression. Another analyst just make a bold prediction on housing prices for this year and next. Barclays analyst Stephen Kim, in a Wall Street Journal article is predicting housing prices will climb 13 percent in 2013 and another 8 percent in 2014.



Two more years of double or almost double digit increases in housing prices is remarkable, considering that prices have already gained double digits increases in 2012. The National Association of Realtors reported the national median existing-home price was up 12.3 percent between January 2011 and January 2012.

Average 30 year mortgage rates are down to 3.40 percent with 0.8 mortgage points in Freddie Mac's Primary Mortgage Market Survey this week. 30 year rates are down slightly from the prior week's average of 3.41 percent. The all-time record low for 30 year conventional mortgage rates in Freddie Mac's survey is 3.27 percent, set back in November 2012.

Current mortgage rates on 30 year conventional loans can be found below the averages mentioned above. Today's mortgage rates can be found as low as 3.00 percent with points on our rate tables. The lowest 30 year rates without points are also below the average at 3.25 percent. You can find rates lower than the averages in most (if not all) states listed in our database.

There are mortgage lenders also quoting 15 year refinance rates today that are much lower than the record low average rate of 2.61 percent. We have lenders quoting current mortgage refinance rates as low as 2.25 percent with points. The lowest 15 year rates without points are also quoted below the average at 2.50 percent.

5 year adjustable mortgage rates averaged 2.58 percent with 0.5 mortgage points, down from the previous week's average rate of 2.60 percent. Depending on the state you search for rates, the lowest 5 year adjustable refinance rates in our database are at an incredibly low rate of 1.50 percent with points. We also have lenders quoting 5 year adjustable refi rates without points at 2.00 percent, still below the average rate of 2.58 percent.