Interest rates on mortgages stayed at their record lows ever on fears over the debt market of Europe and weak economic endeavor in the U.S.A., as Freddie Mac weekly report reveals. But borrowing rates at many lenders being locked-in by customers are to a great extent lower than the medians represent.

The average rate on 30-year fixed rate loan stayed on hold, the same as previous week at 4.09 percent, but the shorter-term rate on 15-year fixed mortgage average decreased just one basis point to 3.29 percent. The decrease on the shorter fixed rate mortgage established a new record low for the loan product.

The mortgage interest rates have been falling for three weeks in a row as banks and mortgage firms lessen rates aiming to draw a rise in mortgage applications within these difficult economic times. However a small number of mortgage products have little space to spare, featuring particular adjustable rate mortgages. The five-year Treasury indexed hybrid hit the average 3.02 percent the current week, up from 2.99 percent last week. The average one-year adjustable rate mortgages were 2.82 percent, increasing just one basis point for the week.