For the second week in a row, the rates for 30-year home loans have stayed below 5%, with the average interest rate falling to 4.91% from the earlier week's 4.98%, according to mortgage company Freddie Mac.

While, the rates hit a record low of 4.78% in the spring, the current rates are attractive enough for those interested in buying or refinancing a home.

According to Freddie Mac, from 4.40% the average rate on a 15-year fixed-rate mortgage fell to 4.36%, rates on 5-year adjustable-rate mortgages down from last week's 4.35% averaged 4.29%, while rates on one-year adjustable-rate mortgages declined from 4.47% to 4.46%.

By buying points that cost 1% of the loan amount, borrowers may be able to lower their interest rates, with Freddie Mac's survey showing nationwide averages to be 0.7-points for 30-year loans and 0.6-points for 15-year, 5-year and 1-year loans.

Amid low mortgage rates in the third quarter, borrowers looking to refinance their mortgages continuously turned to fixed-rate loans, regardless of the type of prior mortgage.

This marked the fourth quarter in a row when over 95% of prime borrowers with adjustable-rate mortgages originally chose fixed-rate products when refinancing. According to Freddie Mac, 30-year fixed-rate mortgages continue to be popular, even though 15-year fixed offerings are gaining favour.