30-Year Mortgage Rate Lowest Since At Least 1971

Get out there, home buyers and owners! The benchmark for the 30-year, fixed-rate mortgage has dropped to a national average of 5.17 percent, its lowest since Fannie Mae began tracking it in 1971, and a decline from last week’s already ferociously low 5.47 percent.

Sayeth the Wall Street Journal this morning: “The sharp decline in rates has spurred a flood of mortgage refinance applications.”

30-Year Mortgage Rate Lowest Since At Least 1971