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Posted at 10:09 AM ET, 05/03/2012

Mortgage rates reach new lows

Mortgage rates averaged 3.84 percent for a 30-year fixed rate this week, down from 3.88 percent last week and beating the previous all-time low of 3.87 percent registered Feb. 9, according to a report released Thursday by Freddie Mac.

The 15-year fixed averaged 3.07 percent, also dropping below its previous all-time record low of 3.11 percent registered on April 12 of this year.

Last year at this time, the 30-year fixed averaged 4.71 percent, and a 15-year averaged 3.89 percent.

“Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week,” said Frank Nothaft, vice president and chief economist of Freddie Mac.

Mortgage rates April 26

Mortgage rates April 19

By  |  10:09 AM ET, 05/03/2012

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