Morning Minute: Mortgage rates break new record low

It’s a new all-time record low for fixed mortgage rates with 30-year, fixed mortgages averaging 3.40 percent and 15-year, fixed mortgages averaging 2.73 percent, according to today’s report from Freddie Mac. Said Frank Nothaft, vice president and chief economist, Freddie Mac:

“Fixed mortgage rates continued to decline this week, largely due to the Federal Reserve’s purchases of mortgage securities, and should support an already improving housing market.”

In other news:

Report: Americans feel more confident in economySt. Louis Post-Dispatch

Potentially good news for struggling Illinois homeowners – WREX

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.