The average 30-year fixed mortgage has been below 4 percent for 16 weeks. The average 15-year fixed contract has been below 3 percent for 7 weeks, Freddie Mac said.
"Following a lackluster employment report for June, long-term U.S. Treasury bond yields eased somewhat this week allowing fixed mortgage rates to reach yet another record low," said Frank Nothaft, vice president and chief economist at Freddie Mac.
Nothaft said only 80,000 net new jobs were added to the economy last month, not enough to lower the national unemployment rate from 8.2 percent.
The mortgage brokerage bank said a 30-year fixed-rate mortgage averaged 3.56 percent with an average 0.7 point for the week ending Thursday, down from last week when it averaged 3.62 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 4.51 percent.
A 15-year fixed rate mortgage averaged 2.86 percent with an average 0.7 point, down from last week when it averaged 2.89 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 3.65 percent.
A 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.74 percent this week, with an average 0.6 point, down from last week when it averaged 2.79 percent.
A 1-year Treasury-indexed ARM averaged 2.69 percent this week with an average 0.4 point, up from last week when it averaged 2.68 percent.
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