Buyers looking for a good deal to acquire their own property may have finally come to a very great time to do so. Recent reports says mortgage rates have reached an all-time low, which could be a very good opportunity for those looking to have their own homes.

According to a survey by the Federal Home Loan Mortgage Corporation or Freddie Mac, the average mortgage rates have dipped to as low as 3.75% for a 30-year fixed-rate loan. It was a 0.05% decrease from the previous week, said Los Angeles Times.

Not only that, but even shorter period of loans such as the 15-year fixed-rate home loan has gone down. From 3.07% last week, it has now gone to an average of 3.03%, noted the survey.

2014's fourth quarter growth in economy and the decrease in prices of consumer products have led to the lower mortgage rates, said Len Keifer, who works as Deputy Chief Economist at Freddie Mac.

The mortgage firm has noted that it was still in 2013 when rates went as low as what was seen this week. Although the going rate of less than 4% for 30-year fixed loans was already present as early as November in 2014.

But while mortgage rates have decreased, some properties remain expensive, which could cost the buyer the same even if the mortgage rate has not gone down.

Because of this, sales of houses, whether pre-loved or newly built, have gone down during the first month of 2015.

In spite of this, many seem to still want to take advantage of the low mortgage rates. This has lead to mortgage credit availability to increase, said Mortgage Bankers Association.

The credit index has gone up to 118.6 as opposed to the average of 100 in May 2012.

According to Michael Fratantoni of the MBA, this is due largely to huge mortgages that require only a small percentage of down payment to be approved.

Mortgage firm Fannie Mae is among those that support loans, which approves 3% in down payment. This trend will soon be followed by Freddie Mac, who would start approving mortgages that only has 3% down payment.

While all these are good terms for those who want to purchase their own house, other factors are still being considered by these mortgage firms, said Realtor, which includes a good credit score, debt-to-income ratio, location of the property, type of the land or property you intend to acquire and the kind of loan you would want to avail.