Average rates on 30-year fixed mortgages dip to lowest level at 4.54 percent

Summary Box: Mortgage rates hit low of 4.54 pct.

RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.

ANOTHER RECORD LOW: The week’s average rate was the lowest since Freddie Mac began tracking rates in 1971 and marked the fifth time in six weeks rates set a record.

LOWER RATES EXIST: Borrowers with a secure job, stellar credit and good finances in some cases can qualify for an even lower rate than Freddie Mac’s average.