30-year mortgage rates match record low

By Derek Kravitz, Associated PressUpdated 9h 13m ago

WASHINGTON – 2012 looks to be another year of opportunity for those who can afford to buy or refinance a home.

Freddie Mac says the average rate on 30-year fixed mortgages fell to 3.91% this week, matching the record low reached two weeks ago. Last week, the average rate for these loans was 3.95%.

The average on 15-year fixed mortgages ticked down to 3.23% from 3.24%. That's up from 3.21% two weeks, which was also a record low.

Mortgage rates are lower because they tend to track the yield on 10-year Treasury notes, which fell below 2% this week.

Still, cheap mortgage rates have done little to boost the depressed U.S. housing market. Many Americans either can't take advantage of the rates or have already done so.

http://www.usatoday.com/money/econom...tes/52388780/1