The average 30-year fixed mortgage rate is 3.94%, down 5 basis points from 3.99% a week ago. 15-year fixed mortgage rates fell 6 basis points to 3.28% from 3.34% a week ago.

As of last week, the 30-year fixed-rate mortgage averaged 3.6%, according to Freddie Mac. FMCC, +12.61% This is the lowest mortgage rates.