Rates on prime mortgages down again

Freddie Mac survey puts 30-year fixed at 4.78%

Rates on prime mortgages eligible for purchase or guarantee by Freddie Mac hit another new low this week, the mortgage finance giant said in releasing the results of a survey of hundreds of lenders.

For borrowers making 20 percent down payments, the 30-year fixed-rate mortgage averaged 4.78 percent with an average of 0.7 point for the week ending April 2, down from 4.85 percent a week ago and 5.88 percent at the same time last year. The rate’s never been lower since Freddie Mac began the survey in 1971.