According to Freddie Mac for the sixth consecutive week the average rate 30-year fixed-rate mortgage has dropped to 3.89% down from 3.91% last week which the lowest rate on record since 1971 when the survey began.
The 30-year fixed-rate mortgage is the most popular choice among homebuyers.
Record lows were also reported for 15-year fixed loan which hit 3.16% down from 3.23% the previous week.
With mortgage rates being at record lows once again, they truly do make home affordability even higher for potential home buyers.