Rates continue to inch down

The average interest rate for a 30-year fixed loan in this week’s Freddie Mac survey was 4.57%, down from 4.58% a week earlier.

According to the big mortgage buyer, that was the lowest rate in the 39-year history of the survey.

The survey asks the lenders what rates they are quoting to well-qualified buyers who have a 20% down payment or 20% equity in their homes if they are refinancing.

The lenders said the borrowers would have paid 0.7% of the loan amount in fees to obtain the fixed rates.