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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.