30-year fixed mortgages in the United States are now at a 30 year low, according to the most recent report from Freddie Mac. The rate at the end of the week on December 11, 2008 stood at a national average of 5.47 percent, which is down from 6.11 percent a year ago.

Keep in mind that this is a national average, so some lenders have even lower rates than this and other associations have different numbers as well. HSH Associates reports that 30-year loans are at 5.33 percent and Inside Mortgage indicates loans are at 5.09 percent.

The drop in interest rates in recent weeks has come as a result of a number of factors. The Federal Reserve’s plans to purchase mortgage-backed securities is helping to lower rates, while the economy is also playing a major role, as the current recession and rising unemployment are driving rates lower.