Freddie Mac: 30-year fixed mortgage at new record low: 3.79%

30-year mortgage rates have fallen below 3.8% for the first time to average 3.79%, down from a then-record 3.83% a week ago, according to Freddie Mac’s latest survey, released Thursday morning. The 15-year fixed loan hit a new low, falling to 3.04% this week.

The survey asks lenders what rates they are quoting to prime borrowers with 20% down payments or equivalent equity in their homes if they are refinancing. Borrowers would have paid 0.7% of the loan amount on average in upfront fees and discount points to obtain the fixed-rate loans, while slightly less for adjustable-rate loans. A separate Mortgage Bankers Assn. report this week reported a double-digit jump in applications for replacement mortgages, which now represent three-quarters of all home loan requests.

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