The benchmark 30-year fixed mortgage rate fell again this week to a modern-day record low. Rates haven't been this low in more than 50 years.
Many borrowers will discover that Fannie and Freddie add fees that make a mortgage more costly. The generic term is risk-based pricing. As I explain in the mortgage analysis in the link above, the fees can add up to a lot of money. You can either pay them out of pocket at closing, or take a higher rate.
In this week's Rate Trend Index, a majority of voters expect mortgage rates to remain relatively unchanged over the next week.