Fifteen Year Mortgage Rate Hits Record Low

Washington, DC, March 8, 2012 -- The 15-year fixed-rate mortgage hit a record low of 3.13% this week, according to Freddie Mac’s weekly survey of conforming mortgage rates.

The mortgage averaged 3.17% last week and 4.15% a year ago.

Rates on 30-year fixed-rate mortgages also dropped slightly during the week ending March 8, averaging 3.88%, down from 3.9% last week and 4.88% a year ago.