Mortgage rates hit record low

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Home-loan buyer Freddie Mac said national mortgage rates reached nearly all-time lows last week, though only buyers with good credit and the ability to make 20 percent down payments will be able to take full advantage. Freddie Mac said the average rate for a 30-year fixed-rate mortgage during the week ending Thursday was 4.94 percent, with borrowers paying 0.7 percent of the loan amount in upfront fees and points to the lender. The all-time low was reached in April this year, when the 30-year rate hit 4.78 percent.

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