Rate on 30-Year Fixed Mortgage Hits Record Low

Setting a record for the eighth time in a year, the average rate on a 30-year fixed mortgage fell to 3.88%, down from the record 3.89% from last week. The average 15-year mortgage increased to 3.17% this week from 3.16% last week, which was a record low. Records on interest rates date back to the 1950s.