Mortgage rates slip for 4th straight week

Mortgage rates slipped for the fourth straight week, continuing to hover near the record lows that have helped support a recent housing recovery.

Rates on 30-year fixed-rate mortgages averaged 3.4 percent with an average 0.8 point for the week ending April 25, down from 3.41 percent last week and 3.88 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. Rates on 30-year fixed-rate loans hit a low in Freddie Mac records dating to 1971 of 3.31 percent during the week ending Nov. 21, 2012.

Rates on the 15-year fixed-rate mortgage, 5-year Treasury-indexed hybrid adjustable-rate mortgage and 1-year Treasury-indexed ARM also all dipped in the past week. Source: Freddie Mac