Card Credit Fixed Interest Low Rate Rate
The average mortgage interest rate on a 30-year fixed-rate loan fell to 4.85 percent in the last week in March. That's down from 4.98 percent just the week before.
The rate is also the lowest its been since government-backed mortgage financing company Freddie Mac has been recording it. Remember, Freddie Mac has been recording this rate since 1971, so last week's numbers truly were historic.
Not Everyone Qualifies for the Best Rates
These low interest rates combined with falling housing prices -- not to mention desperate sellers willing to make deals and a high inventory of available homes -- make this a great time to buy a house, especially for those homebuyers who don't have a residence of their own to sell first.
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