Mortgage Rates Drop, 15-Year at Record Low

Washington, DC, April 13, 2012 -- The 15-year mortgage hit its lowest rate on record, while the 30-year mortgage remained near record lows, according to Freddie Mac.

The average 15-year rate dropped to 3.11% from 3.21%. The previous low was 3.13% last month.

The average rate for a 30-year mortgage declined to 3.88% in the week ended today from 3.98%. The rate was 3.87% in February.