Mortgage Rates Remain at Historic Lows

Washington, DC, Sept. 22, 2011 --  Fixed mortgage rates remained at record lows for a third straight week and are likely to fall further in the coming weeks after the Federal Reserve on Wednesday said it is taking action to keep long term interest rates low.

Freddie Mac says the average rate on the 30-year fixed mortgage was unchanged at 4.09% this week. That's the lowest rate seen since 1951.

The average rate on the 15-year mortgage ticked down to 3.29%. Economists say that's the lowest rate ever for the loan.