Fixed mortgage rates held near record lows this week as the markets waited for the Federal Reserve monetary policy announcement following two days of deliberations.

The Freddie Mac survey showed the 30-year, FRM averaged 3.88% for the week ending Thursday, inching down from the prior week’s average of 3.90%. Last year at this time, the 30-year FRM averaged 4.78%.

The 15-year FRM, a popular refinancing choice, averaged 3.12%, slightly falling from last week when it averaged 3.13%. A year ago, the average rate for a 15-year FRM was 3.97%.

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