Freddie Mac said the 30-year fixed-rate mortgage averaged 3.23%, a record low in survey history.

According to the results of Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage had an average 0.7 point for the week ending April 30. The 30-year fixed-rate mortgage averaged 4.14% in the year-ago week. The 15-year fixed-rate mortgage averaged 2.77%, with an average 0.6 point, down from last year's 3.60%, and the five-year treasury-indexed hybrid adjustable-rate mortgage averaged 3.14%, with an average 0.4 point, compared to 3.68% in the year-ago period.

Freddie Mac Chief Economist Sam Khater noted that record-low rates are driving higher refinance activity and have slightly improved purchase demand.