According to InmanNews, the leading source of independent real estate news, information, advice, research, opinion and commentary for industry professionals and consumers alike, the current mortgage rates are just a little above the all-time low rates on the 70s.  Freddie Mac conducted a survey of lenders and learned that “rates on 30-year fixed-rate mortgages averaging 3.99 percent with an average 0.7 point for the week ending Nov. 10. That's essentially unchanged from last week's average of 4 percent, and not far above the all-time low in records dating to 1971 of 3.94 percent seen during the week ending Oct. 6.”

This is great news for buyers and sellers – buyers will get a great deal, and sellers will likely see a boost heading into the holidays.

For more information, here’s the article:

http://www.inman.com/news/2011/11/10/low-rates-sparking-demand-mortgages