Rate on 30-year mortgage down to record 3.88 pct.

Mortgage rates are down to 3.88 percent, but bank pays me one quarter of one percent - .0025- on my savings account money. Mortgage rates are like gas prices, they spike up immediately, and drop real slow.

An aging first world country with a dead and dying industrial manufactoring base should be saving money, not going into debt even deeper. And developing countries like China should be spending on their development and infastructure. Our brilliant leaders have got it all completely backwards. All for short term profit, for only a few.

I just refinnced to 15 years. It went from 5.75 to 3.5% .I put all the savings into the principle
and make an additional payment toward the principle every month .I will pay the house off in 7 years Im only 30 years old.

bankers are our friends, we bail them out and they sell us out.

Which is harder finding a job in the USA? or
Finding something made in the USA?

ELECTED OFFICIALS...Please pass legislation to allow Americans to withdraw retirement savings (401K's, IRA's, etc) without penalty if they use the money to pay down their mortgage debt so they can refinanace at these rates. It will allow many buyers to avoid foreclosure and get their head above water. It may even create a few jobs.

A house across the street sold for 385k in 2007 and sold 3 days ago for 159k. We bought our house in 1996 for 150k, was valued at 300k in 2008/09, and is now valued at 125k. Property taxes went up though! Wich means the county raised the value - c---ksu----s. Basically we cannot enjoy the 3.88% because we have no equity!! Its no wonder people are still walking away from their homes.

And to thinkl my first mortgage was 10.8%.........

Our house lost a third of its value and we're underwater on the mortgage. Sorry banks, no moving for us.

Just purchased a home in July. House appraised for 82,000..sellers were asking 65,000 (short sale)...we bought it for 52,000 and our rate is 4.25% on a 30 year fixed

I converted my 30 year fixed at 5% to a 15 year fixed at 3.75% last year. My monthly interest component dropped over $200. I roll that savings back into the principal every month along with additional extra principal. Bought in June of '05. Should be paid off in May of '16. You see, I haven't spent my money on TVs, the latest electronic gadgets, expensive cars and other luxuries and I max out on my 401(k) contributions. I may be able to retire (or at least semi-retire) at 55.

Rate doesn't matter if you don't have a job or any money. Might as well be a 1/2%.

Just bought my first home with a total mortgage payment far less than my old rent payment.

Will everyone who has a rate like this please post your success? I really doubt if anyone has it.

The American Dream is dead and gone.

If you are a young person with a reliable job in Florida. With the prices i have seen in Florida coupled with a 3.88 mortage buy now you will never in your life time see this market again. At 73 we are looking to buy the deals are that good.

I hate these articles. My credit score is above 800 but It's impossible for me to get these rates because we don't owe enough on our home. The only way the bank would lower our rate is if we were to get a home equity loan with a refinance. Banks don't reward financially responsible customers with low rates.

lowest interest rates in 50 years and real estate market is still tanking in many areas...that's not a good sign.

Well that's just great, but BOA just charged me 1.22 for moving some money from my checking to my savings account. F this. BOA is gone. First the housing market and now it's fleece me with ridiculous charges. Ya can't win if there is a bank involved.

Where I live you can get what would have been a $300,000 home in 2005 for around $135,000 right now. I'm talking 4 bedroom, 2500 sq/ft, 3 bath, marble counter tops, formal dining room, etc.

Housing values aren't coming back. Jobs aren't coming back.