Mortgage rates continue to fall to record-low territory, with the average for a 30-year, fixed-rate loan dropping to 3.83 percent this week, according to Freddie Mac.
The 30-year rate set a record last week, dropping to 3.84 percent.
Average rates for 15-year fixed loans also reached a record low, dropping to 3.05 percent from 3.07 percent, according to the latest survey, which was released Thursday.
Borrowers would have paid an average of 0.7 percent in upfront fees to lenders to obtain the fixed-rate loans, according to the data.
In the North Central region, which includes most Midwestern states, 30-year rates were the highest among the five regions surveyed at 3.87 percent.
Adjustable-rate mortgages, also known as ARMs, were mixed. Five-year fixed-rate loans were at 2.81 percent, down from 2.85 percent a week ago. Loans that adjust annually rose to 2.73 percent from 2.7 percent.
More Top Picks Best Cat 8 Ethernet Cables
The rates are for loans of up to $417,000.
[email protected] | Twitter: @peterfrost