Mortgage rates fall to another record low

Posted by Bonnie Martin Designated Broker on Friday, May 18th, 2012 at 7:29am.

WASHINGTON (AP) – Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week. 

The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify.

Mortgage buyer Freddie Mac says the average rate on 30-year loans dipped to 3.79%. That's down from 3.83% last week and the lowest since long-term mortgages began in the 1950s.

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