Fixed mortgage rates again dip to record lows

WASHINGTON -- Fixed U.S. mortgage rates fell again to record lows Thursday.

The mortgage buyer Freddie Mac said the average rate for a 30-year loan dropped to 3.62 percent, down from 3.66 percent last week. That is the lowest rate since long-term mortgages began in the 1950s.

The average rate on the 15-year mortgage, a popular refinancing option, slipped to 2.89 percent, from last week's 2.94 percent, which had been the record.

The average rate on the 30-year loan has fallen to or matched record low levels 10 of the past 11 weeks. It has been below 4 percent since December.