Average 30-year mortgage rate a record 3.91 pct. - KMOV.com

Average 30-year mortgage rate a record 3.91 pct.

 WASHINGTON (AP) -- The average rate on the 30-year fixed mortgage fell to a record 3.91 percent this week, the third time this year that rates have hit new lows.

Freddie Mac says the rate on the 30-year home loan fell from 3.94 percent the previous week. The average on the 15-year fixed mortgage was unchanged at 3.21 percent. That's also a record.

Low rates offer a historic opportunity for those who can afford to buy a home or refinance. But many Americans either can't take advantage of the rates or have already done so.

Rates have been below 5 percent for all but two weeks in 2011. Even so, this year is shaping up to be one of the worst ever for home sales.
 

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