Ahead of the Bell: Weekly mortgage rates

AP News
Posted: Mar 15, 2012 4:36 AM
Ahead of the Bell: Weekly mortgage rates

Freddie Mac is expected to report on weekly mortgage rates on Thursday morning.

The spring-buying season is just kicking off amid historically low rates. Last week, the average on the 30-year fixed mortgage dipped to 3.88 percent. That's just above the record low of 3.87 percent, which was hit a few weeks ago. Meanwhile, the average rate on the 15-year fixed mortgage dipped to a record 3.13 percent.

The super-low rates are helping the housing market recover, albeit slowly as unemployment, tougher lending requirements and economic uncertainty keep many people on the sidelines. Economists say housing is years away from returning to full health.

The report is expected at 10 a.m. Eastern.