Mortgage rates near record lows

30-year fixed-rate averaging 4.78%

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Rates on 30-year fixed-rate mortgages were near record lows this week as instability in financial markets overseas had investors seeking safety in bonds and mortgage-backed securities, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.

Rates were headed back up today, however, as renewed confidence in markets had investors moving funds back into riskier investments.