Average 30-year mortgage rate a record 3.91 pct.
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Web Producer: Laura Kittell
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.
(Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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