With interest rates at their lowest level in years, homebuyers are taking notice.

On Thursday, Freddie Mac reported 3.49 percent with an average 0.7 point as the average for a 30-year mortgage, remaining near three-year lows.

“The low mortgage rate environment continues to spur homebuying activity, with applications to purchase a home up fifteen percent from a year ago,” Freddie Mac’s Sam Khater said in a release.

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

SOURCE: UrbanTurf