The mortgage rates had started to lower from 2010. This trend is continuing till now and is supposed to continue for some time after this too. In fact, as per a new record released by Freddie Mac, the mortgage rates are easing to rather new record lows. As a result, the affordability of most of the homebuyers will be high. It will be easier for almost all to take out a mortgage in order to finance their home.

Facts from the reports

Some of the important and new facts about mortgage that the report has been able to provide are:

The 30 year Fixed rate Mortgages or FRMs have averaged 3.89 percent and that too with an average of 0.7 point in the week that ending on January 12, 2012. This has come down from that of the previous week’s average when it was seen to have averaged at 3.91 percent. On the other hand, last year during this same time, the 30-year FRM was seen to have averaged at 4.71 percent.
The 15 year Fixed rate Mortgages were seen to have averaged at 3.16 percent which has been at an average of 0.8 point. This has been down from that of last week’s when it had averaged at 3.23 percent. In comparison to this, a year ago just at this time, the 15-year FRMs were seen to have averaged at 4.08 percent.
The 5-year “Treasury-indexed” hybrid adjustable-rate mortgages or ARMs are seen to have averaged at 2.82 percent this week, these were with an average of 0.7 point. This has been down from that of last week’s when the ARMs were seen to have averaged at 2.86 percent. But, just a year ago, this 5-year ARMs were seen to have averaged at 3.72 percent.
The 1-year “Treasury-indexed” ARMs are now seen to be averaged at 2.76 percent; that is with the average of 0.6 point. This is down from the last week when the averaged percent was 2.80. But, if compared to the statistics of last year, the 1-year ARMs were seen to have averaged at 3.23 percent.
So, this is considered to be the time when you may be able to get the mortgages at low interest rates. Your affordability will be high as the interest rates are low, and this will mean that you will be required to make much low payments each month against the mortgage.