RATES DROP: Average rates for 30-year and 15-year fixed-rate mortgages and one-year adjustable rate mortgages hit fresh lows this week, according to a survey by mortgage buyer Freddie Mac.

RECORD LOWS: The 30-year, the most popular mortgage, dipped to 3.84 percent. The 15-year, an option for refinancing, declined to 3.07 percent and the one-year adjustable rate mortgage hit 2.7 percent.

HOUSING OUTLOOK: Cheaper mortgages have not done much to boost home sales. Rates have been below 4 percent for all but one week since early December, yet sales of both previously occupied homes and new homes fell in March.


Due to the overwhelming enthusiasm of our readers it has become necessary to transfer our commenting system to a more scalable system in order handle the content.