Sean Glennon, a loan officer with Home Savings & Trust Mortgage, reports that mortgage rates on 30-year fixed mortgages fell to the lowest level in decades for the ninth time in 12 weeks. The average rate for a 30-year fixed mortgage is currently a decades low rate of 4.27%. The average rate on a 15-year fixed mortgage dropped to 3.72% which is the lowest on record dating back to 1991. Rates were pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.

If you are thinking about buying a home in the near future, I would recommend buying a home sooner than later. Call Sean Glennon at Home Savings & Trust Mortgage for more details or to get pre-qualified. He can be reached at (703)766-4630.