Mortgage Rates Hit All Time Lows 4.3%

30 year fixed mortgage rates hit all time lows recently, hopefully stimulating lending. With lending standards tight, qualifying is the key to home ownership.

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The MBA’s seasonally adjusted purchase index, a tentative early indicator of home sales, rose 1.4 percent.Average 30-Year Rate Near 4.3%

Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 4.28 percent, up 0.03 percentage point from the previous week.

Interest rates were also below their year-ago level of 4.97 percent.

In the week ended Oct. 8, the rate reached 4.21 percent, the lowest level in the survey, which has been conducted weekly since 1990.