On Thursday at 10:00 am, mortgage giant Freddie Mac unveiled the latest low rates in its Primary Mortgage Market Survey (PMMS).  

The average overall rate in the U.S. for 30-year fixed rate mortgages, or FRMs, totaled to 3.34%. This was a .06% drop from last week's rates of 3.40%, and a new record low for this type of mortgage. Additionally, 15-year fixed-mortgage rates sank from 2.69%, to 2.65%, one-hundredth of a percentage point from the previous low of 2.66%.  One-year adjustable-rate mortgages, or ARMs, were also down from last week, from 2.59%, to 2.55%. 

Mortgage rates have taken a steady slide downward since this time last year. In November 2011, 30-year FRMs were at 4%, while 15-year FRMs were 3.31%, and one-year ARMs were reported at 2.97%.  At that time, these rates were considered close to record lows themselves.

Reports are attributing these new lows in mortgage rates to the Federal Reserve's recent QE3 purchasing of mortgage bonds in order to boost national financial liquidity. Thus far, home sales have risen, and more homeowners are refinancing loans they already own.  However, due to stricter credit and income criteria from banks, some homeowners are still finding difficulty in the refinancing process.