Mortgage rates hit an “all time low” on a 30-year-fixed-rate mortgage of 4.15% on August 18, 2011 and went up .07 percent for the week of August 25, 2011 according to Freddie Mac. Frank Nothaft, Vice President and Chief economist of Freddie Mac, stated the following reason as to why the 30-year-fix-rate hit an all time low:
“The Federal Reserve’s policy statement last week and ongoing market concerns over the European debt market carried momentum into this week allowing all mortgage products in our survey to reach all-time record lows.”
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