You can get a fixed-rate 15-year mortgage under 4.0% but it will take a lot of work, documentation, down payment, and a stellar credit record.
Fixed-rate mortgages dropped to record lows again this week, with lenders offering the 30-year loan at an average of 3.62%, according to housing finance giant Freddie Mac.
That was down from the previous record low of 3.66%, set during the last two weeks. Freddie Mac, which has been conducting the weekly survey since 1971, said the 30-year loan has hit or matched a record low in 10 of the last 11 weeks.
Lenders were offering the 15-year fixed-rate mortgage at 2.89% this week, down from 2.94% a week ago and also a record low.