DailyMarkets.com - 1-Year Mortgage Rate Reaches Record Low

Posted: 06 Jun 2014 06:30 AM PDT

This week, mortgage applications decreased 3.1% compared to the previous week, however, 1-year mortgage rates reached a record-low level during this week that hasn't been seen in almost half a century.

According to Freddie Mac, this week, mortgage rates are at some of their record-low levels this year, with 1-year interest rates reaching the lowest level we've seen in almost 5 decades.