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Fixed-rate mortgages drop again

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Fixed rate mortgages continue to set record lows, according to a survey by McLean-based Freddie Mac.

The 30-year fixed-rate mortgage averaged 4.44 percent, down from last week when it averaged 4.49 percent. Last year at this time, the rate averaged 5.29 percent.

The 15-year fixed-rate mortgage this week averaged a record low of 3.92 percent, down from last week when it averaged 3.95 percent. A year ago at this time, the 15-year rate averaged 4.68 percent.

The 30-year fixed-rate survey began in 1971, and the 15-year fixed-rate began in 1991.


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