The average rate on the 15-year fixed-rate mortgage hit a record low 2.61% in the week ended...

|By:, SA News Editor

The average rate on the 15-year fixed-rate mortgage hit a record low 2.61% in the week ended April 25, down from 2.64% in the prior week, according to Freddie Mac's weekly report. The 30-year fixed ticked down to 3.40% from 3.41%, nudging closer to the record low of 3.31%. A year ago, the 15-year and 30-year rates were 3.12% and 3.88%, respectively.