The average rate on the 30-year fixed mortgage fell back down to 3.94 percent, the record low set earlier in the fall, The Associated Press reports.
Freddie Mac said Thursday the rate on the 30-year home loan fell from 3.99 percent the previous week. The average rate of 3.94 percent is the lowest rate ever, according to data from the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage fell to 3.21 percent from 3.27 percent. That’s also a new record.
Rates have been below 5 percent for all but two weeks this year.
The average fee for the 30-year loan rose to 0.8 from 0.7 and the fee on the 15-year fixed mortgage was unchanged at 0.8.
The average rate on the five-year adjustable loan fell to 2.86 percent from 2.93 percent. The average rate on the one-year adjustable loan increased slightly to 2.81 percent from 2.80 percent.
The average fee on the five-year loan rose from 0.5 to 0.6 and the fee on the one-year adjustable loan was unchanged at 0.6.
