McLEAN, Va. (November 25, 2009)--Freddie Mac reported Wednesday that average rates for 30-year fixed mortgages matched a record low of 4.78 percent this week.

Rates for 30-year mortgages hit an all-time low the week ending April 30.

Since then, rates have hovered near 5 percent, spurring refinancing activity and home sales.

However, credit standards remain stringent, so the best rates usually are available only to borrowers with solid credit and a 20 percent down payment.

The Federal Reserve has pumped $1.25 trillion into mortgage-backed securities to try to lower rates on mortgages and loosen credit availability.

Rates on 30-year mortgages traditionally track yields on long-term government debt.