Mortgage rates fall to another record low

Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac says the average rate on 30-year loans dipped to 3.79%. That's down from 3.83% last week and the lowest since long-term mortgages began in the 1950s. The 15-year mortgage, a popular option for refinancing, declined to 3.04%. That's down from last week's previous record of 3.05%. Rates on 30-year loans have been below 4% since early December. But so far, those cheap rates haven't been enough to ignite home sales. While sales of previously occupied homes picked up in January and February, they fell again in March and remain well below healthy levels.

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