The Orange County (Calif.) Register contributing columnist Jeff Lazerson offers the latest lowdown on mortgage rates.

Studying Freddie Mac’s weekly survey, he says the 30-year fixed rate averaged 3.62%, 3 basis points better than last week. The 15-year fixed improved as well, landing at 2.93%, 2 basis points better than last week’s 2.95%.

That’s the lowest 30-year average in a year and the lowest rate for 15-year mortgages since April.

Read what else Lazerson is seeing in the mortgage market.

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