May 10, 2012 | last updated June 1, 2012 2:28 pm

30-year mortgage rate's new record low

Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week, The Associated Press reports.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That's the lowest since long-term mortgages began in the 1950s. And it's below the previous record rate of 3.84 percent reached last week

The 15-year mortgage, a popular option for refinancing, dropped to 3.05 percent, also a record. That's down from last week's previous record of 3.07 percent.

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