Minnesota Mortgage Blog - MN Mortgage and Real Estate News

Mortgage Interest Rates Hit New Lows

St Paul, MN: Mortgage interest rates fell again last week to the lowest point since the early 1950's, when long-term loans were for just 20 or 25 years, not the 30-year loans that are so popular today.

The rates listed below are the average for last week, and are the lowest since Freddie Mac began tracking rates in 1971.

LAST WEEKS National Average Mortgage Rates WITH POINTS As compiled and reported by: Freddie Mac
For Week Ending: 07/08/2010
Mortgage	Rate	Points
30 Year Fixed	4.57	0.70
15 Year Fixed	4.07	0.70
5 Year Adjustable	3.75	0.70
1 Year Adjustable	3.75	0.60
IMPORTANT: Don't automatically trust lender paid web sites like Bankrate.com and Interest.com for accurate rate information. It is very biased information. Rates are uploaded to the sites directly by lenders who PAY to post rates. Rates there are designed to capture your attention with little to no regards to being factual or applying to your exact personal situation.