The average 30-year fixed-rate mortgage fell to a bargain-basement 4.27% for the week ending Oct. 7, a new record low, Freddie Mac announced Thursday. That's down from the 4.32% rate last week, and way below the 4.87% rate that prevailed at this time last year. Continue reading Mortgage Rates Fall to New Record Low: 4.27% Mortgage Rates Fall to New Record Low: 4.27% originally appeared on DailyFinance on Thu, 07 Oct 2010 12:33:00. Filed Under: Economy , Real Estate , Credit Permalink | Tweet this! | Comments