Nationwide mortgage rates achieve historic lows

U.S. fixed-mortgage rates hit a new low, according to survey data released today by Freddie Mac. The 30-year rate reached 3.84 percent, beating the previous low-rate set this February. The 15-year rate is also down to 3.07 percent, 0.82 percent lower than in May 2011. Just two months ago, 30-year rates were stagnating near 4 percent and 15-year rates were at 3.3 percent, both at their highest points since December. Since then, a mostly steady decline has spelled good news for borrowers culminating in today’s historic lows. — Christopher Cameron