News Summary: US mortgage rates near record lows

AP News
Posted: Nov 01, 2012 2:10 PM

RATES SLIP: Average U.S. rates on fixed mortgages slipped this week and stayed near record lows, a trend that's helped boost home sales and refinancing.

THE NUMBERS: The average rate on the 30-year mortgage declined to 3.39 percent from 3.41 percent last week. Four weeks ago, the rate touched a record low 3.36 percent. The rate on the 15-year mortgage dipped to 2.70 percent, down from 2.72 percent last week.

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RATES STILL LOW: Low rates this year have helped drive a modest housing recovery.