The average rate on the 30-year fixed mortgage fell to a record 3.91 percent this week, the third time this year that rates have hit new lows, The Associated Press reports.
Freddie Mac said Thursday that the average on the 30-year home loan fell from 3.94 percent the previous week. The 3.91 percent rate is the lowest average for long-term fixed mortgages on records dating to the 1950s
The average on the 15-year fixed mortgage was unchanged this week at 3.21 percent. That’s also a record.
The average fee for the 30-year loan fell to 0.7 from 0.8; the average on the 15-year fixed mortgage was unchanged at 0.8.
For the five-year adjustable loan, the average rate fell to 2.85 percent from 2.86 percent. The average on the one-year adjustable loan declined to 2.77 percent from 2.81 percent.
