Mortgages Hit Record Low Rates: Lending Tree

Mortgages hit the lowest average interest rate on record, according to figures released Wednesday by Lending Tree. The company’s Weekly Mortgage Rate Pulse, a snapshot of the lowest and average rates available from Lending Tree lenders, reflected that average 30-year fixed home loan rates had dropped week over week to 4.35%, 3.25% for 15-year fixed, and 2.75% for a 5/1 adjustable rate mortgage (ARM).

In a statement, Cameron Findlay, chief economist of LendingTree.com, said, “Mortgage rates remain under pressure given continued weakening of economic conditions placing the Federal Reserve on alert to potentially enter into a second round of quantitative easing. Any government interaction at this juncture will force rates lower.”