Mortgage rates breaking records

Rates on loans at or near historic lows

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Rates on several types of mortgages were at or near historic lows this week, helping spur demand for purchase and refinance loans, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage averaged 4.87 percent with an average 0.7 point, down from 4.94 percent last week and 5.94 percent a year ago.