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Mortgage rates remain near record lows

Mon, Dec 12, 2011

News

Mortgage rates dropped again this week and remain at near-record lows.

Online analyst MonitorBankRates.com reported that the average 30-year mortgage rate was 3.92 percent Monday morning, down from an average of 3.95 percent last week.

Rates have remained low over the last several months since the U.S. Federal Reserve announced a promise in August to keep rates near 0 percent for two years. Interest rates and how the Federal Reserve will communicate with the public about interest rates are expected to feature heavily in a Federal Reserve meeting Tuesday.

The 15-year mortgage rate was averaging 3.25 percent Monday morning, down from 3.31 percent last week, according to MonitorBankRate.com.

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