Record-low mortgage rates in the US have just decreased for the second week in a row, so if you are looking for the best mortgage rates for a refinance or new home purchase, you should take advantage of them now.

This is the second week in a row that all mortgage rates have decreased or remained steady at record-lows, according to Freddie Mac, thus making it more affordable for soon-to-be homeowners to get a good and low mortgage rate.

Both the 30-year fixed-rate mortgage and the 5-year adjustable-rate mortgage are now only 0.06% higher than the lowest rates they have reached in more than 35 years, while the 1-year adjustable-rate mortgage has just reached a new record-low rate of only 2.61% compared to 2.63% last week.

The 30-year mortgage rate is at 3.55% this week, 0.04% lower than last week, and only slightly above the lowest rate it has reached in decades. 5-year mortgage rates have also decreased from 2.78% last week to 2.75% this week, reaching the second lowest 5-year mortgage rate that has been seen in the past years.

The 15-year mortgage rate is the only rate that has remained steady at the same percentage as last week, at the record-low of 2.86%.

Interestingly enough, even with decreased mortgage rates, mortgage applications have decreased 2.5% from last week, although this is much less than the 4.3% mortgage application decrease which occurred last week.

Of the total mortgage activity, refinancing remains constant at 79% for a second week in a row, and adjustable-rate mortgages have increased to 5% of the total applications this week, compared to 4% last week.

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