Mortgage Rates Reach All Time Record Low 4.5% 30-Years Fixed

On Wednesday afternoon 30 year fixed mortgage rates hit a low point everybody dreamed about but has never been a reality, 4.5%. A new all time record low was reached following some slight improvements in prices of Residential Mortgage Backed Securities. Stronger than average demand at a 7 year Treasury bond auction as well as a second consecutive day of positive real estate data moved the markets. The 15 year fixed conforming mortgage rate is at 4.125%. The 5/1 ARM rate is at 3.5%. Freddie Mac said in their weekly mortgage rates survey that mortgage rates tied a all time low weekly national average at 4.78%, also set back in May of this year.