Freddie Mac recently released the results of its Primary Mortgage Market Survey showing mortgage rates easing to new all-time record lows for all products covered in the survey, helping to keep homebuyer affordability high.
The average rate on a 30-year fixed-rate mortgage fell to a record low of 3.89% for the week ending January 12, down from the previous week when it averaged 3.91%.
A year ago, the 30-year rate was at 4.71%.
The average for the 30-year fixed mortgage rate has been below 4.0% for six consecutive weeks.
The 15-year fixed-rate mortgage fell to a record low of 3.16% last week versus 3.23% a week earlier.