The average number of days homes are spending on the market has dropped by nearly 10 percent nationwide in the last year, according to June housing data from The average U.S. home now spends 84 days on the market. 

The 30-year fixed-rate mortgage -- the most popular choice among home buyers -- is now a full percentage point lower than a year ago, Freddie Mac reports in its weekly mortgage market survey. Fixed-rate mortgages have been on a record-breaking streak the last few weeks, pushing home affordability even higher. 

"Market concerns over the strength of the economic recovery brought long-term Treasury yields to new lows this week allowing fixed mortgage rates to reach record levels,” says Frank Nothaft, Freddie Mac’s chief economist. 

Here’s a closer look at rates for the week ending July 26: 

  • 30-year fixed-rate mortgages: averaged a new low of 3.49 percent, with an average 0.7 point, beating last week’s previous record of 3.53 percent. A year ago, 30-year fixed-rate mortgages averaged 4.55 percent.