Mortgage rates tumble back into record territory

By Les Christie @CNNMoney April 12, 2012: 4:11 PM ET

NEW YORK (CNNMoney) — Mortgage rates fell this week, with the 15-year fixed rate hitting yet another record low, amid news of weak job growth during the month of March.

Borrowers seeking 15-year mortgages, a popular choice for those looking to refinance, were rewarded with an average interest rate of just 3.11% this week, down from last week’s 3.21% and more than one percentage point lower than a year earlier, according to Freddie Mac (FMCCFortune 500)’s weekly mortgage rate survey.
The rate on 30-year fixed mortgage also fell, to 3.88% from 3.98% the week before, just short of its own record low of 3.87%, set back in February.
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