Interest Rates Drop Yet Again For Mortgages

06.22.12 | Sarah Harnisch

There's been yet another drop in the rates for those wanting to buy a house.  Numbers from mortgage finance company Freddie Mac peg the rate for a 30-year fixed rate mortgage at three-point-66 percent.  It's the lowest rate since Freddie Mac began keeping records in 1971.

Meanwhile, gas is on track to drop to 3-dollars a gallon by this fall. Speculators say regular gasoline averages $3.47 a gallon nationally. That's down 47-cents from this year's high in April, and well below the 5-dollar-a-gallon fears fanned earlier this year. What's driving it down? Investors say there are two things: supply and demand in the Middle East and tepid consumer purchases. People aren't buying gas. Tom Kloza of the Oil Price Information service predicts prices will likely hit 3-dollars by Halloween, and if not by then, then definitely by Thanksgiving.