Mortgage rates at all-time low
By Holden Lewis • Bankrate.com
Mortgage rates dropped to yet another modern-day record low.
The benchmark 30-year fixed-rate mortgage fell 7 basis points this week, to 4.81 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point.
Mortgage rates for June 23, 2010
That 4.81 percent is a record low in the nearly 25-year history of Bankrate's weekly survey. For the previous two weeks, the benchmark 30-year rate had stood at 4.88 percent, and that had been the record low.
Mortgage analysis for June 24, 2010