Benchmark mortgage rate dips to 3.88 percent
BY Associated Press
Friday, April 27, 2012
4/27/12 at 4:14 AM
The nation's benchmark mortgage rate is back near its record low, keeping home-buying and refinancing affordable.
Mortgage buyer Freddie Mac said Thursday that the average 30-year, fixed-rate home loan is going for 3.88 percent, down from 3.9 percent last week.
In February, the rate hit 3.87 percent, the lowest since long-term mortgages began in the 1950s.
The 30-year loan is the most common financing option for home buyers.
Freddie Mac surveys lenders across the country each week.