Last week, mortgage giant Fannie Mae reported mortgage rates at record lows, with the average rate reported by its lenders to be 4.27 percent with an average of .80 points. Looking at my rate sheet, I was delighted to see I was able to quote 4.25 percent with zero points and 4.375 percent with zero closing costs for a 30-year fixed rate.
Although mortgage rates hit record lows less people qualify for the lowest rate. This doesn't mean you still shouldn't look into buying or refinancing. Read the news above.
