April 2nd, 2009 2:01 PM by
Three of the four mortgage products tracked by Freddie Mac in its Primary Mortgage Market Survey hit new interest rate lows this week. For the 30-year it was the fourth time in 2009 that a new record has been established.
The survey which covers the week ended April 2 reported that the average interest rate on a 30-year fixed-rate mortgage (FRM) was 4.78 percent compared to the previous record low set last week of 4.85 percent. Fees and points were unchanged at 0.7 point. Freddie Mac has been tracking the 30-year FRM since 1971.
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