MORTGAGE RATES FALL: Freddie Mac said the average rate on the 30-year loan slipped to 4.87 percent this from 4.95 percent last week. The average rate on the 15-year fixed home loan fell to 4.15 percent from 4.22 percent.
FOLLOW THE TREASURYS: Mortgage rates tend to track the yield on the 10-year Treasury note, which has fallen on fears that the unrest in Libya will push oil prices higher.
LOW, BUT NOT RECORD LOWS: The rate on the 30-year mortgage hit a 40-year low of 4.17 percent in November. The rate on the 15-year loan reached 3.57 percent in November, the lowest level on records starting in 1991.